Revenue Falls at DoubleClick But 2002 Loss Is SmallerRevenue at DoubleClick Inc. was down for the fourth quarter and 2002 fiscal year, the company said yesterday.
DoubleClick reported fourth quarter revenue of $66.3 million, down from $96.1 million in the 2001 Q4. Its GAAP (Generally Accepted Accounting Principles) net loss for the quarter was $53.9 million, while pro forma net income for the quarter was $7.3 million.
The difference between the GAAP net loss and pro forma net income was due to a $65.8 million restructuring charge, gains of $7.9 million from the sale of a portion of the company's holdings in DoubleClick Japan and minority interest positions and other non-cash and non-recurring items, the company said.
Full year 2002 revenue was $300.2 million, down 26 percent from 2001. The GAAP net loss was $117.9 million for 2002, better than a 2001 net loss of $265.8 million. DoubleClick said it had its first full year of pro forma profitability in 2002 with pro forma net income of $17.9 million.
The global TechSolutions division reported fourth quarter revenues of $43.6 million, and annual revenues of $187.2 million, a decline of 9.6 percent versus 2001
The Data division reported quarterly revenue of $20.4 million and annual revenues of $83.3 million up 2.5 percent year-over-year.
DoubleClick said it expects 2003 revenue to be $250 million to $300 million. The Data division is expected to represent 35 percent of revenue with the remainder coming from TechSolutions. Within the TechSolutions division: email is expected to generate approximately 17percent of total revenue, ad management is expected to represent 45 percent, and 3 percent is expected to come from new initiatives.