DoubleClick Swings to Q3 Net Loss

NEW YORK — DoubleClick stock was down nearly 11 percent Wednesday, a day after the company reported that it swung to a net loss in the third quarter. The stock (DCLK) was trading at $5.41, down 64 cents.

The online ad technology giant reported Tuesday that its revenue fell to $74.6 million, down 1.4 percent from the second quarter and 19.5 percent from a year ago. Second quarter and 2001 revenue included the results of divested business.

In the third quarter, the New York-based company swung to a net loss of $62 million or 46 cents per share. Last quarter, DoubleClick posted a net profit of $4.1 million or three cents per share. In Q3 2001, DoubleClick recorded a $103 million net loss or 77 cents per share.

Pro forma net income was $6.6 million or five cents per share, compared to pro forma net income of $2.5 million or two cents per share in the second quarter and a pro forma net loss of $12.6 million or nine cents per share a year earlier.

DoubleClick projected fourth-quarter revenues of $62-66 million and total company operating expenses of $42-44 million.