DoubleClick Raises Fourth Quarter & Full Year 2004 Outlook
06 Enero 2005 - 3:00PM
PR Newswire (US)
DoubleClick Raises Fourth Quarter & Full Year 2004 Outlook
Higher than Expected Revenue from TechSolutions Drives Results NEW
YORK, Jan. 6 /PRNewswire-FirstCall/ -- DoubleClick Inc.
(NASDAQ:DCLK), the leading provider of data and technology
solutions for marketers, advertising agencies and web publishers,
today announced that it has revised guidance for the fourth quarter
and full year 2004 in order to reflect better than anticipated
revenue generation in the TechSolutions segment. The Company is
also adjusting guidance to reflect a higher diluted share count as
required under FASB EITF Issue No. 04-8. Company Raises Revenue
Expectations Due to higher than projected revenue from its
Performics, Ad Management, and Email products, DoubleClick now
expects that fourth quarter revenue from its TechSolutions segment
will be $6 million to $7 million higher than the mid-point of its
previous guidance range. Data segment revenue is expected to be
within a narrower range than indicated in the previous outlook.
These figures are preliminary. The Company plans to report final
fourth quarter and full year 2004 results on February 3, 2005.
"This quarter we saw an increase in Ad Management volume from both
existing customers and from large new customers coming on board,"
said Kevin Ryan, CEO, DoubleClick Inc. "In addition, our Search,
Affiliate, and Email businesses all benefited from a strong holiday
season." New GAAP Rules on Contingent Convertibles Under FASB EITF
Issue No. 04-8, "The Effect of Contingently Convertible Instruments
on Diluted Earnings per Share," DoubleClick's Zero Coupon
Convertible Subordinated notes will be included in the calculation
of diluted earnings per share regardless of whether any of the
conversion contingencies have been met. The new EITF Issue is
effective for reporting periods ending after December 15, 2004,
subsequent to which date publicly traded companies must
retroactively restate diluted earnings per share calculations for
2004 and prior year periods. Under the EITF issue, DoubleClick will
treat its Zero Coupon Convertible Subordinated Notes, which have a
conversion price of $13.12 per share, as though they had been
converted into approximately 10.3 million shares beginning June 23,
2003. In this restatement, DoubleClick will treat its former 4.75%
Subordinated Notes as though they had been converted into
approximately 3.8 million shares from January 1, 2003 through July
24, 2003. No restatement will be necessary for periods prior to
January 1, 2003, because the 4.75% Notes would have been
anti-dilutive. Revised 2004 Outlook The Company now anticipates
fourth quarter TechSolutions revenue of $54 million to $55 million,
compared to the previous guidance range of $46 million to $50
million. Fourth quarter Data revenue is expected to range from $26
million to $27 million, versus the previous outlook of $25 million
to $28 million. DoubleClick's overall 4Q04 top line is estimated to
be $81 million to $82 million, compared to the previous guidance of
$72 million to $77 million. DoubleClick expects full year 2004
TechSolutions revenue to be $193 million to $194 million, against
the previous guidance range of $185 million to $190 million. 2004
Data revenue is expected to be between $104 million and $105
million, versus the previous outlook of $103 million to $106
million. Total Company revenue is expected to range from $298
million to $299 million, compared to the previous estimate of $290
million to $295 million. DoubleClick's gross margin is expected to
be in the low 70's percent range for the quarter and year. The
Company had previously anticipated full year gross margins in the
high 60s to low 70s percent range, while the 4Q04 gross margin
projection is unchanged. GAAP operating expenses are projected to
be $50 million to $51 million for 4Q04, versus the previous
guidance range of $50 million to $52 million. Full year GAAP
operating expenses are expected to be approximately $190 million.
The Company now anticipates GAAP EPS of between $0.06 and $0.07 and
$0.24 and $0.25, respectively, for the quarter and year ending
December 31, 2004. These estimates assume a reduction in EPS of
approximately $0.01 for 4Q04 and $0.02 for FY04 due to the EITF
change described above. DoubleClick's previous outlook for GAAP EPS
was $0.01 to $0.04 for the fourth quarter of 2004 and $0.21 to
$0.24 for the full year, exclusive of EITF Issue No. 04-8. Unusual
items are not expected to have a material impact on the quarter's
results. Fourth Quarter And Full Year 2004 Financial Results
DoubleClick will be releasing its fourth quarter and full year 2004
results after market close on Thursday, February 3, 2005. At 5:00
p.m. EST on the same day, the Company will be hosting a conference
call to discuss these results as well as to provide its preliminary
first quarter and full year 2005 financial outlook. To listen to a
live Webcast of the call, please go to http://ir.doubleclick.net/
15 minutes prior to the planned start of the call to register,
download, and install (at no cost) any necessary software. There
will be a replay of the Webcast available beginning approximately
one hour after it has ended at http://ir.doubleclick.net/. This
replay will be available for 30 days thereafter. For dial-in
information, please contact Investor Relations at (212) 683-0001.
The Webcast is also being distributed over CCBN's Investor
Distribution Network to both institutional and individual
investors. Individual investors can listen to the call at
http://www.fulldisclosure.com/ or by visiting any of the investor
sites in CCBN's Individual Investor Network. Institutional
investors can access the call via http://www.streetevents.com/.
About DoubleClick DoubleClick is the leading provider of data and
technology solutions for advertising agencies, marketers, and web
publishers to plan, execute, and analyze their marketing programs.
DoubleClick's marketing solutions help clients yield the highest
return on their marketing dollar. DoubleClick Inc. has global
headquarters in New York City and maintains 22 offices around the
world. Note: This press release includes forward-looking
statements, including earnings and revenue projections, plans, and
the expected impact of FASB EITF Issue No. 04-8. The results or
events predicted in these statements may vary materially from
actual future events or results. Factors that could cause actual
events or results to differ from anticipated events or results
include: intense competition in DoubleClick's industry, lack of
growth or decline in online advertising or marketing, changes in
government regulation, uncertainties related to DoubleClick's
decision to review strategic options, failure to manage the
integration of acquired companies, failure to successfully manage
the Company's international operations and other risks that are
contained in documents which the Company files from time to time
with the Securities and Exchange Commission, including the
Company's most recent reports on Form 10-K and Form 10-Q. In
addition, any forward-looking statements represent the Company's
estimates only as of today and should not be relied upon as
representing the Company's estimates as of any subsequent date.
While the Company may elect to update forward-looking statements at
some point in the future, it may choose not to do so, even if the
Company's estimates change. INVESTOR CONTACT: Jason McGruder
Manager, Investor Relations 212-381-5182 PRESS CONTACT: Jennifer
Miller VP, Corporate Communications 212-381-5705 DATASOURCE:
DoubleClick Inc. CONTACT: Investors - Jason McGruder, Manager,
Investor Relations, +1-212-381-5182, or Media - Jennifer Miller,
VP, Corporate Communications, +1-212-381-5705, both of DoubleClick
Inc. Web site: http://www.doubleclick.com/
http://ir.doubleclick.net/
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