NEW YORK DoubleClick swung to a net profit and recorded better-than-expected revenue in the first quarter.
The company's shares rose 33 cents to $8.62 in after-hours trading Tuesday following news of the earnings report. The stock (DCLK) closed on the Nasdaq at $8.29, down 45 cents or 5 percent.
The online ad technology company reported on Tuesday a Q1 net income of $1.4 million, or 1 cent per share. That compares to a Q4 2002 loss of $54 million, or 40 cents per share, and a year-earlier loss of $6 million, or 4 cents per share. Pro forma net income, which excludes charges for the period, was $3.5 million, or 3 cents per share.
First-quarter revenue for DoubleClick totaled $60.1 million, slightly above the company's guidance of $55-60 million. Revenue slid 28.2 percent from $83.7 million in Q1 2002. The company attributed the decline primarily to last year's divestitures of DoubleClick Japan and its media and research businesses.
Operating expenses for the quarter were down 32.6 percent to $38.6 million versus the year-earlier period.
The New York-based company said it expects second-quarter revenue to be $60-63 million, and earnings per share between a loss of two cents and gain of two cents.