Alluding to a continued drop in lead generation revenues, ValueClick chalked up another disappointing quarter to short-term challenges. The company reported preliminary third quarter earnings yesterday.
The ad network and services firm said revenues hit between $156 and $157 million, on the low end of its original forecasted range of $155 to $165 million.
Its fiscal year 2007 revenue outlook has also been deflated from a previous range of $645 to $660 million to around $635 to $640 million. That outlook had already been tempered when the company reported its Q2 earnings. Before then, ValueClick told investors, 2007 revenues would stretch from $655 to $665 million.
The company noted in a statement its lead gen business “has stabilized.” Weakness in that segment was counteracted in part by better-than-anticipated results from its Comparison Shopping business. Though it didn’t provide guidance on its Q3 lead generation revenues, ValueClick stated revenues collected in the current quarter should reach between $48 and $49 million.
In addition to a general drop in financial services ad dollars following the subprime mortgage bust, ValueClick and the lead generation sector as a whole has been battling the effects of an ongoing investigation by the Federal Trade Commission.
After riding high on recent record quarterly results, including last year’s above-guidance Q3 revenues of nearly $140 million, ValueClick has felt financial blues the last two quarters.
The firm plans to announce finalized earnings for the quarter ending September 30, 2007 on November 1.
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