DoubleClick Inc. reported a loss of $60.4 million for the first quarter, or 48 cents per share, on revenue of $114.8 million.
A year ago, the New York company reported a loss of $18.3 million on revenue of $110 million.
On a pro forma basis, DoubleClick reported a net loss of $10.5 million, or 8 cents per share, on revenue of $114.8 million in the first quarter. Pro forma results do not include certain restructuring and amortization charges.
In fourth quarter 2000, DoubleClick broke even and said its revenue rose 41 percent to $132.3 million. For the full year, the company said revenue was $506 million, up 96 percent from 1999. It reported a net loss of $13 million, or 11 cents per share, for 2000.
DoubleClick said revenue from its media business fell 23 percent in the first quarter to $46 million, from $60.1 million in the same quarter a year earlier. Revenue from its technology business rose 38 percent to $54.9 million, from $39.7 million in 2000. Its data revenue rose 24 percent to $18.2 million, from $14.7 million.
The company said its proportion of media revenue from traditional advertisers rose to 59 percent in the quarter. More than 2,300 customers advertised on its network in the first quarter.
DoubleClick said it had $821 million in cash at the end of the first quarter.
Analysts said DoubleClick's media cost-per-thousand rates are down 50 percent year over year. Its average CPM is below $2, they said. The company commands about 30 cents per ad on average.
“Media-pricing decline eventually impacts the core service DoubleClick provides: ad serving,” Michael Russell, an analyst at Morgan Stanley Dean Witter, said in a recent research report. “While 30 cents per ad is quite cheap, it isn't so cheap when it comprises 13 percent of your media CPM.”