DoubleClick Inc. posted higher revenues
but recorded a second quarter loss of $5.1 million (before a charge related
to a headquarters relocation) or 13 cents a share, compared with a loss of
$4.7 million, or 14 cents, a year ago.
The company reported that revenues climbed to $44 million from $17.3 million
in the same period a year earlier.
Including the effect of the headquarters relocation charges, the net loss for
the second quarter of 1999 was $5.6 million. “They did extremely well on the
top line,” Tara Long, an analyst with CE Unterberg Towbin, told Bloomberg
News. “They’re expanding as quickly as possible.”
Chairman and CEO Kevin O’Connor said in a statement accompanying the earnings
report: “This was a transforming quarter for DoubleClick. Not only did we
continue to
experience strong demand for DoubleClick’s products and services, but we also
announced several important initiatives to further develop our suite of
product offerings.
“The merger of Abacus Direct, announced in June, will allow us to more
efficiently target the right consumer with the right message at the right
time. And our recent merger with
NetGravity will allow us to offer our customers a truly complete package of
online advertising solutions.”
There was no word on when DoubleClick may achieve profitability.
The company said it delivered an average of over 363 million ad impressions
per day during the month of June 1999 compared to 264 million ad impressions
per day during March 1999. DoubleClick’s DART ad serving technology delivered
10.9 billion ads in June 1999. In addition, the number of Web publishers
serviced by DART (Dynamic Ad Reporting and Targeting) increased to 893 in the
second quarter of 1999 from 675 in the first quarter of 1999.
