NEW YORK DoubleClick exceeded its Q4 forecast, recording its fourth consecutive profitable quarter on revenue of $72.9 million.
The online ad technology company reported after the market closed yesterday a fourth-quarter net income of $3.8 million, or 3 cents per share, compared to a net loss of $54 million, or 40 cents per share in the year-earlier period. Much of last year's loss can be attributed to restructuring charges. In the third quarter, DoubleClick posted a net profit of $6.3 million, or 4 cents a share.
Fourth-quarter revenue for DoubleClick reached $72.9 million, up 10 percent from $66.3 million in Q4 2002 and down 3 percent from $74.8 million in Q3 2003. The New York-based company beat its previous guidance of Q4 earnings of 0-3 cents per share on revenue of $69-71 million.
The Q4 earnings were brought down by $5.4 million in charges related to the relocation of DoubleClick's New York headquarters.
Full-year revenue was $271.3 million, a 10 percent decline versus $300.2 million in 2002. The 2003 results included $5.5 million in revenue from the company's data management business, which was acquired in the second quarter; its 2002 results included $35.8 million in revenue from its divested media and research business.
Net income for the year reached $16.9 million, or 12 cents per share, compared to a year-before loss of $117.9 million, or 87 cents per share.
The company projected first-quarter revenue of $68-72 million and earnings of 3-6 cents per share. For full-year 2004, DoubleClick said it expects revenue of $290-310 million and earnings of $38-45 million, or 27-32 cents per share.
DoubleClick shares (DCLK) closed on the Nasdaq today at $11.90, up $1.56 or 15 percent. The stock's 52-week high is $13; its low, $5.96.