DCLK ($10.50~$11.90) Swings to 4th-Quarter Profit
Wednesday January 28, 7:37 pm ET
NEW YORK -- DoubleClick Inc. (NasdaqNM:DCLK - News) swung to a fourth-quarter profit after year-earlier results were weighed down by restructuring expenses.
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The online-advertising firm late Wednesday reported net income of $3.8 million, or three cents a share, compared to a net loss of $54 million, or 40 cents a share, a year earlier.
The company said results in the latest quarter included $5.4 million in charges related to the recent relocation of its headquarters, partially offset by the reversal of a $1.3 million reserve relating to the favorable resolution of certain tax matters.
For the year-earlier period, the net loss included a $65.8 million restructuring charge related to DoubleClick's real estate, partially offset by gains of $7.9 million from the sale of part of the company's holdings in DoubleClick Japan.
Revenue rose 10% to $72.9 million from $66.3 million.
When the company released its third-quarter results in October, DoubleClick projected bottom-line results in the fourth quarter of break-even to earnings of three cents a share on revenue of $69 million to $71 million.
For 2003, DoubleClick reported net income of $16.9 million, or 12 cents a share, compared to a net loss of $117.9 million, or 87 cents a share, a year earlier.
Revenue fell 9.6% to $271.3 million from $300.2 million in 2002.
Going forward, the firm is projecting first-quarter net income between three cents and six cents a share on revenue of $68 million to $72 million. The mean estimate of analysts surveyed by Thomson First Call (News - Websites) is for earnings of four cents a share.
For the full year 2004, DoubleClick said it expects to post net income between 27 cents and 34 cents a share on revenue of $290 million to $310 million.
At 4 p.m. EST on the Nasdaq Stock Market (News - Websites) , shares of DoubleClick were down 20 cents, or 1.9%, at $10.34. In after-hours activity, the stock rose to $11.12, according to Island ECN (News - Websites) .
-Ted Smolinski; Dow Jones Newswires; 609-520-4377 |
