NEW YORK Digital marketing and technology company aQuantive recorded its seventh consecutive quarter of improved bottom line performance, reporting on Monday a Q1 net profit on revenue of $47.5 million.
The parent of Avenue A, i-Frontier and Atlas DMT realized a Q1 net profit of $1.9 million, or 3 cents per share. That compares to a net loss for the year-ago period of $3.9 million, or 6 cents per share, and a net profit in Q4 2002 of $1.7 million, or 3 cents per share.
First-quarter revenue for the Seattle-based company, which services clients like AT&T Wireless, Best Buy and Novartis, rose 102 percent to $47.5 million from $23.5 million in Q1 2002. The significant increase can be partly attributed to the addition of i-Frontier, the Philadelphia interactive agency aQuantive bought last December [IQ Daily Briefing, Dec. 3, 2002]. Q4 2002 revenue was $44.4 million.
AQuantive exceeded its Q1 guidance, set in February, of revenue of $36-40 million and net income of 0-1 cent per share. For the second quarter, the company said it expects revenue of $48-52 million and net income of 2-4 cents per share.
The company also updated its guidance for full-year 2003, projecting revenue of $190-210 million and net income of 16-22 cents per share. That is up from February's full-year guidance of $160-180 million in revenue and 14-20 cents per share in net income.
AQuantive (AQNT) shares closed on the Nasdaq Monday at $7.40, up 64 cents or 9.47 percent. The stock's previous 52-week high was $6.94; its 52-week low, $1.95.