DoubleClick Loses $5.1 Million on Higher Revenues

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.

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