DoubleClick Posts Loss of $5.4 million

Ad network DoubleClick Inc. posted a net loss for the third quarter of $5.4 million, or $0.13 per share, compared to a net loss of $4.7 million, or $0.14 per share, for the third quarter of 1998.

The company reported system revenues of $60.4 million for the third quarter of 1999, up from system revenues of $20.8 million for the third quarter of 1998.

“This has been a record quarter for DoubleClick,” said Kevin O’Connor, chairman and CEO. “Our continued focus on customers and execution has enabled us to maintain our leadership position. We signed a record 104 new clients to our patented DART technology solution for publishers, and our networks experienced another consecutive quarter of growth.”

“On the international front, we opened three new offices in Asia, which complement NetGravity’s already substantial presence in that key market. Significantly, with NetGravity and Abacus transactions (mergers/acquisitions) scheduled to close in October and November respectively, we have made considerable headway towards the integration of those businesses.”

There was no word on when profitability may be achieved. DoubleClick stock closed Friday at $113.50 after opening at $118.

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