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.
Top NewsFriday, August 5, 2005
ValueClick Raises Guidance