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Article Excerpt
M2 PRESSWIRE-29 October 2004-DOUBLECLICK: DoubleClick reports third quarter 2004 results; Company posts record revenue for Abacus and overall Data Segment updates 2004 outlook(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:10292004
London - DoubleClick Inc. (NASDAQ: DCLK), the leading provider of data and technology solutions for marketers, advertising agencies and web publishers, today announced financial results for the third quarter ended September 30, 2004, and updated its business outlook for 2004.
Third Quarter Results
DoubleClick reported revenue for the third quarter of $81.0 million versus $74.8 million in the year-ago period. GAAP net income for the most recent quarter was $15.4 million, or $0.12 per share, compared with $6.3 million, or $0.04 per share, in the third quarter of 2003. The Company achieved gross margins of 73.4% during the quarter compared to 66.1% in the year-ago period.
EBITDA was $23.9 million for the third quarter of 2004 compared to $23.8 million in 3Q03. Total GAAP operating expenses were $52.0 million in the quarter, versus $45.7 million in the third quarter of 2003. Total company headcount was 1,526 as of September 30, 2004, against 1,214 twelve months prior.
"I am pleased to report that we have made good progress in our core businesses," said Kevin Ryan, Chief Executive Officer, DoubleClick. "The Data segment reported record revenues and Abacus operating margins were at an all-time high, while gross and operating margins continued to expand in Ad Management. In addition, our new Performics division performed ahead of our expectations. We believe that recent initiatives taken to enhance our core businesses have laid the foundations for improved performance by the Company.
We continue to evaluate every aspect of our business, with a goal of maximizing our potential for growth."
GAAP earnings and EBITDA for the third quarter of 2004 benefited from a non-operating gain of approximately $7.1 million from the Company's sale of its 15% interest in AdLINK Internet Media AG. In addition, DoubleClick recorded a restructuring credit relating to its Louisville, Colorado facility, which lowered operating expenses by $4.5 million.
GAAP net income and EBITDA were negatively...
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