Reuters: Global Markets: ValueClick forecasts weak third-quarter results, shares fall

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ValueClick forecasts weak third-quarter results, shares fall Aug 1st 2013, 22:29 Thu Aug 1, 2013 6:29pm EDT (Reuters) - Online advertising company ValueClick Inc (VCLK.O) forecast far weaker-than-expected results for the current quarter as it expects spending on banner ads and email marketing to remain muted. Shares of the company fell about 16 percent to $21.25 in post-market trading after the profit warning. ValueClick, which also reported lower-than-expected second-quarter revenue, said sales from the company's media business was flat during the quarter. The business accounted for about 60 percent of total revenue. The company said it expects revenue from the business to grow in low single-digits for the current quarter. ValueClick said it expects adjusted profit of 39 cents to 40 cents per share on revenue of $164 million to $168 million in the third quarter. Analysts on average had expected a profit of 43 cents per share on revenue of $180 million, according to Thomson Reuters I/B/E/S. The company has been realigning its businesses. It said in May the integration of marketing, media and global service offerings was expected to hurt second-quarter revenue. Second-quarter net income fell to $11.9 million, or 15 cents per share, in the second quarter from $20.3 million, or 25 cents per share, a year earlier. Revenue rose to $159.6 million from $153.9 million. On an adjusted basis, earnings were 39 cents per share. Analysts on average were expecting a profit of 39 cents per share on revenue of $166.2 million. Shares of Westlake Village, California-based company were trading at $21.6 in extended trading, after closing at $25.1 on the Nasdaq on Thursday. (Reporting By Aditya Kondalamahanty in Bangalore; Editing by Saumyadeb Chakrabarty) Link this Share this Digg this Email Reprints

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