Online advertising and marketing firm ValueClick reported third-quarter profit of $2 million, or $0.03 a share, on Tuesday. The company raised guidance for the full 2003 calendar year.
The company brought in $22.7 million in revenue in the third quarter, more than it previously predicted. Compared to the same period last year, ValueClick’s revenues increased $5.4 million. Part of the increase is due to Search 123 revenues, a pay-per-click search engine firm the company acquired in June.
The company says it now expects revenues of $25 million for the fourth quarter, which would result in earnings of $0.04 per share. For the full year 2003, it expects revenues to come in between $87 million and $87.5 million. Previously, it predicted revenue between $85 million and $86 million. The increase in expected revenue would boost 2003 net earnings per share from $0.09 to $0.10.
The company didn’t break out revenues for different parts of its business. Over the years, ValueClick has grown through acquiring online marketing companies, including BeFree and Mediaplex, as well as Search 123. While it began as a pay-per-click ad network, the company’s focus has broadened considerably. Most recently, ValueClick agreed to purchase affiliate network Commission Junction in a deal worth around $58 million. That transaction isn’t set to close until December.
The company scheduled a conference call at 4:00 p.m. ET to discuss its results.