Friday, August 5, 2005
ValueClick Raises Guidance
In further earnings news, Westlake Village-based ValueClick also released its Q2 results yesterday. The company reported $54.6M in revenue, a 58% year to year increase in revenues. Net income for the quarter was $8.1 million. ValueClick also raised its guidance for the year to $269-279 million and an EPS of $0.41-0.43. The company acquired Web Clients, launched the U.S. operations of PriceRunner, and expanded its Commission Junction business into France during the quarter. The company now has $129.1M in cash in the bank, even after its acquisition of Web Clients and E-Babylon in June. The company borrowed $91.7M against its marketable securities to finance those acquisitions in a securities repurchase agreement. ValueClick said that it anticipates it will repay the loan over the next twelve months using cash generated from operations.