ValueClick announced the closing of its acquisition of affiliate marketing company Commission Junction yesterday and raised its guidance for the rest of the year.
ValueClick, Westlake Village, CA, said its revenue for the fourth quarter would total about $27 million, up from the $25 million originally forecast, thanks in part to having Commission Junction on the books for nearly a month. Its forecast for diluted net income remains at 4 cents per share, while the company upped its expectations for earnings before interest, taxes, depreciation and amortization from $4.5 million to $4.9 million to $4.8 million to $5.2 million.
In 2004, ValueClick expects sales of $134 million to $138 million, a nearly 50 percent increase from 2003. Net income is forecast to rise to between 19 cents and 24 cents per share.
ValueClick acquired Commission Junction on Oct. 10 in a deal valued at $58 million for cash and stock. Commission Junction will be combined with ValueClick's BeFree subsidiary to offer advertisers an affiliate network along with search marketing services. Jeff Pullen, Commission Junction's chief executive, will head the unit.
