DoubleClick Reports Second Quarter 2004 Results
Company updates FY2004 outlook
Laptop Battery New York, NY, 7/22/2004 - DoubleClick Inc. (NASDAQ: DCLK), the
leading provider of marketing solutions for
advertising agencies, marketers and
web publishers, today announced financial results for the second
quarter ended June 30, 2004, and updated its business outlook for
2004.
View DCLK 2Q04
Press Release Financials 2Q04 2Q03
Revenue (000's) $69,153 $63,556
GAAP Net Income (000's) $3,881 $5,831
GAAP EPS $0.03 $0.04
Stamps.com Reports Third Quarter 2003 Financial Results Revenue Up 32% Year over Year; Customer Acquisition Momentum Builds SANTA MONICA, October 29, Stamps.com™ ( STMP) today announced financial results for the third fiscal quarter ended September 30, 2003. Third quarter revenue was up 32% versus the same quarter last year, and up 7% versus the second fiscal quarter of 2003. In addition, the company reported an increase in customer acquisition during the third quarter, particularly with higher value Power Plan customers.
Thinkpad Total Company revenue came in below DoubleClick's previously
issued outlook, primarily due to year-over-year declines in revenue
from its Abacus and Ad Management divisions. These declines were
mainly a result of lower-than-anticipated mailings by customers in
the U.S. retail business-to-consumer (B-to-C) Abacus Alliance and
continued softness in the Publisher portion of DoubleClick's Ad
Management business. Due to an increase in planned investments in
its businesses, coupled with lowered growth expectations in Abacus
and Ad Management, the Company now expects revenue and net income
for the full year 2004 to be below previous guidance.
Stamps.com Reports Second Quarter 2000 Financial Results Second Quarter Revenue Grows 80 Percent SANTA MONICA, Calif. July 13, Stamps.com today announced that second quarter revenue was $3.7 million, an increase of 80 percent over first quarter revenue. cash charges was $34.4 million, or $0.72 per share based on the weighted average common shares outstanding of 48.0 million. term investments ended the second quarter at $333.6 million, or $7 per share.
Microsoft "While several of our newer businesses continued to show growth,
we are not satisfied with our overall results," said Kevin Ryan,
Chief Executive Officer, DoubleClick. "We are focused on enhancing
the performance of our core businesses, even as we continue to
invest in our newer products. These increased investments may
dampen our results in the short term, but we believe that they are
necessary to improve long term growth."
ScanSoft reported second quarter 2003 revenue of $27.7 million, a six percent increase over second quarter 2002 revenue of $26.2 million. related intangible assets and restructuring and other charges was $1.3 million, or $0.02 per diluted share, compared with $4.2 million, or $0.05 per diluted share, for the second quarter of 2002. related intangible assets and restructuring and other charges, ScanSoft reported a second quarter 2003 net loss of $2.6 million, or $0.04 per share, compared with second quarter 2002 net income of $1.9 million, or $0.03 per diluted share.
Laptop Computers Second Quarter Results
DoubleClick reported revenue for the second quarter of $69.2
million versus $63.6 million in the year-ago period. GAAP net
income for the most recent quarter was $3.9 million, or $0.03 per
share, compared with $5.8 million, or $0.04 per share, in the
second quarter of 2003. The Company achieved gross margins of 68.4%
during the quarter compared to 64.7% in the year-ago period.
EBITDA1 was $10.7 million for the second quarter of 2004 compared
to $16.4 million in the year-ago period. GAAP earnings and EBITDA
for the second quarter of 2003 benefited from a net restructuring
credit of $6.9 million associated with the Company's facilities.
This credit was partially offset by a $4.4 million loss in
connection with the redemption of the Company's 4.75% convertible
subordinated notes.
Tom Huntington DivX, Inc. 0672 DivX, Inc. Reports Second Quarter 2007 Financial Results - Aug 09, - DivX, Inc. ( DIVX) today announced results for the second quarter ended June 30, 2007. Revenue for the second quarter was $18.3 million, an increase of 39 percent compared to revenue of $13.2 million reported in the second quarter of last year. GAAP net income in the second quarter of 2007 was $1.0 million, or $0.03 per diluted share and includes (1) based compensation of approximately $2.1 million, ($1.2 million, or $0.03, per diluted share, net of related taxes), and (2) operating costs directly attributable to Stage6 of approximately $2.4 million ($1.4 million, or $0.04 per diluted share, net of related taxes). Excluding the effect of these two items, GAAP net income of $3.6 million, or $0.10 per diluted share.
Laptop Computer DoubleClick generated $15.0 million in cash flow from operations
during the second quarter. The Company had $541.6 million in cash
and marketable securities, and had a net cash2 position of $403.2
million, or $3.06 per share, as of June 30, 2004. This reflects the
net $49.6 million used for the acquisition of Performics Inc. and
the $38.0 million used in connection with the open market
repurchase of approximately 4.7 million shares of DoubleClick's
common stock in 2Q04.
related intangible assets, cash stock compensation, ScanSoft reported a second quarter 2004 net loss of $0.4 million, or breakeven per basic share, compared with a net loss of $2.9 million, or $0.04 per basic share, in the second quarter of 2003.
Desktop Computer "We have repurchased over $59 million in stock since our board
authorized a $100 million buy-back program late last year," added
Ryan. "We are currently generating positive cash flow from
operations and have plenty of cash on hand to invest in the
business."
Notebooks 1EBITDA, (or Earnings Before Interest, Tax, Depreciation, and
Amortization), is a non-GAAP financial measure. Please see the
attached schedule for a reconciliation of GAAP net income to
EBITDA. Please see the Form 8-K filed on July 22, 2004 by the
Company with the SEC for a discussion of
why the Company believes EBITDA
is a useful financial measure to investors and of how and when
management uses EBITDA.
Lenovo 2Net cash may be considered a non-GAAP financial measure and is
defined as gross cash and cash equivalents of $77.5 million,
restricted cash of $15.4 million, and investments in marketable
securities of $448.7 million minus zero coupon convertible
subordinated notes of $135.0 million, and capital lease obligations
and loans payable of $3.4 million. Please see the Form 8-K filed on
July 22, 2004 by the Company with the SEC for a discussion of why
the Company believes net cash is a useful financial measure to
investors and of how and when management uses this measure.
Hard Drive TechSolutions
The TechSolutions segment reported second quarter revenue of $46.4
million versus $43.5 million in 2Q03. The 2Q04 figure includes
Marketing Resource Management (MRM) sales because of DoubleClick's
acquisition of SmartPath, Inc. in 1Q04. Overall TechSolutions gross
margins were 73.0%, an increase from 61.9% in the June quarter of
2003. Overall TechSolutions operating margins were 20.6%, an
increase from 9.3% in the second quarter of 2003.
Travelstar The year-over-year improvement in TechSolutions revenue was a
result of an increase in Marketing Automation revenue more than
offsetting a decline in Ad Management revenue. TechSolutions gross
margins and operating margins improved primarily because of
decreases in cost of revenue and operating expenses in both Ad
Management and Marketing Automation.
Gateway The Company's Ad Management revenue was $31.8 million in 2Q04
versus $32.6 million in the year-ago period. The year-over-year
revenue decline occurred mainly because the increase in revenue
from Advertiser customers and the addition of sales from the
Company's new Rich Media solution did not outweigh
lower-than-expected aggregate revenue from Publisher clients.
Laptop Parts DoubleClick has signed several new contracts for use of its ad
serving and/or Rich Media solutions since April 1, 2004. Recent
wins include About.com, Lemontonic, Publicis, SI.com, UNext,
Washington Post, and Weather.com.
Software The Company's Marketing Automation products had revenues of
$14.6 million in the most recent quarter, against $10.9 million in
2Q03. Organic revenue in this division
rose at double-digit rates primarily due to new customer
acquisition. In addition, the Company's Marketing Automation
results improved because they now include MRM sales. New Marketing
Automation agreements have been reached with clients including
A&E Television, Folksam, and Ingram Industries.
Hard Drives "We are particularly pleased with the recent progress we have
seen in the email portion of our Marketing Automation division.
This business had positive operating income in 2Q04, and with top
line up 12%, this was the first quarter since 2002 in which we have
seen double-digit increases in year-over-year email revenue," said
David Rosenblatt, President of DoubleClick. "We continue to offer
both bundled and stand-alone solutions to our clients, and this
approach has enabled us to have better than 95% average client
retention among our top Ad Management and Marketing Automation
customers over the past year."
Electronics On June 24, 2004, DoubleClick completed its acquisition of
Performics Inc., a privately-held search
engine marketing and affiliate
marketing company based in Chicago. The results for Performics
will be reported as a third division of TechSolutions, and will
be included in DoubleClick's 3Q04 consolidated statements of
operations. DoubleClick has reflected this acquisition on its
balance sheet as of June 30, 2004.
Canon Performics helps clients automate their paid placement, paid
inclusion, and comparison shopping listings across multiple search
providers and publishers. Performics also provides the
infrastructure for affiliate marketing, through which marketers
manage, track, and report on their offers across multiple affiliate
sites. The 200-plus Performics client roster includes America
Online, Bose, Eddie Bauer, HP Shopping, Kohls, L.L.Bean, Motorola,
Northern Tool, Target, and Williams-Sonoma. DoubleClick has already
begun selling Performics's solutions as stand-alone offerings to
its existing customer base, and plans to integrate its search tool
with existing Ad Management solutions.
Desktop Pc Data
DoubleClick reported Data revenue of $22.8 million in 2Q04, up
13.4% from $20.1 million in 2Q03. The Data segment's top line
increased because the inclusion of Data Management sales more than
offset the drop in Abacus revenue. DoubleClick acquired its Data
Management business on June 30, 2003, and began recognizing revenue
for the division in 3Q03. Abacus quarterly revenue declined by 2.4%
year-over-year, to $19.6 million. Data Management recorded $3.2
million in revenue for 2Q04. Overall Data gross margins were 59.2%
for the quarter, against 70.7% for 2Q03. Data operating margins
were 10.4%, versus 29.2% in last year's June quarter.
Desktop Computers The year-over-year decrease in Abacus revenue stemmed mainly
from continued sluggishness in the U.S. B-to-C catalogue market
leading to fewer mailings from large Abacus customers. The U.S.
Business-to-Business (B-to-B) and International Alliances continued
to see double-digit revenue increases. Quarterly Data segment gross
and operating margins declined year-over-year primarily because of
the decline in B-to-C revenue and because a greater percentage of
Data sales came from the segment's smaller and relatively fast
growing, but lower margin businesses.
Think Pad During the quarter, DoubleClick added 30 net new Abacus Alliance
members globally. This figure includes new Alliance members in the
US, the UK, Australia, and Japan.
Repair Revised 2004 Outlook
DoubleClick is adjusting its full-year 2004 outlook due to
lower-than anticipated results from its Abacus B-to-C Alliance and
the Publisher portion of its Ad Management division. DoubleClick
believes that the recent addition of Performics will partially
offset its reduced Abacus and Ad Management revenue outlook. The
Company expects the acquisition to reduce GAAP net income by $0.01
per share in 2004 due to integration costs and amortization of
intangibles. DoubleClick believes that the acquisition will be
immediately accretive in terms of EBITDA, and that it will be
accretive to EBITDA and GAAP net income in 2005. Finally, the
Company intends to increase spending in several key businesses,
particularly in Ad Management, because the Company believes that
additional investment in these areas is critical to improve growth
in its core businesses.
Data Recovery Third Quarter 2004 Outlook
DoubleClick expects third quarter revenue to be between $76
million and $82 million. The Company anticipates recording GAAP
earnings of between $0.02 and $0.05 per share.
Cisco The Company expects total Company gross margins to be in the
high 60s to low 70s percentage range. GAAP operating expenses are
expected to be between $50 million and $53 million. Items in
interest and other, net and taxes are expected to be neutral to
earnings, based on an assumed tax rate of approximately 15%.
Keyboard The Company's segment projections for the third quarter of 2004
are as follows:
Monitor * TechSolutions revenue is estimated to be between $46 million
and $50 million, including $28 to $31 million from Ad Management
and $13 to $15 million from Marketing Automation. Approximately $4
million of this segment's revenue should come from Performics.
Overall TechSolutions gross margins are expected to be in the low
70s percentage range.
Desktop * Data revenue is estimated to be between $30 million and $33
million, including approximately $3.5 million from Data Management,
and overall Data gross margins should be in the high 60s to low 70s
percentage range.
Infosys Full-year 2004 Outlook
DoubleClick expects 2004 revenue to be between $290 million and
$305 million. The Company anticipates recording GAAP earnings of
between $0.13 and $0.17 per share.
Refurbished Laptops The Company expects total Company gross margins to be in the
high 60s to low 70s percentage range. GAAP operating expenses
should be between $185 million and $195 million. Items in interest
and other, net and taxes are expected to be approximately $3.5
million, based on an assumed tax rate of approximately 15%.
Wipro The Company's segment projections for Full Year 2004 are as
follows:
Lap Top * TechSolutions revenue is expected to be between $187 million
and $197 million, including $121 to $128 million from Ad Management
and $56 to $59 million from Marketing Automation. Approximately $10
million of TechSolutions' revenue is expected to be generated by
Performics. Overall TechSolutions gross margins are expected to be
in the low 70s percentage range.
Refurbished * Data revenue should be between $101 million and $108 million,
including approximately $13 million from Data Management, and
overall Data gross margins should be in the mid 60s percentage
range.
Memory "In our B-to-C Abacus Alliance and traditional ad serving
products, we have two very strong businesses in terms of
profitability and operating cash flow, which have nonetheless not
grown as expected this quarter," said Bruce Dalziel, Chief
Financial Officer, DoubleClick. "We have a healthy balance sheet,
improving margins, positive operating cash flow and GAAP net
income, and overall we remain in good financial shape. Our revised
guidance reflects our commitment to improving the long term results
in our core businesses."
Intel Conference Call Today
The DoubleClick Conference Call to discuss this earnings press
release is scheduled for today at 4:30 p.m. EDT. This call will be
available live via Webcast, and on a replay basis afterward on the
Company's website www.doubleclick.net under Investor Relations or
at http://ir.doubleclick.net. Institutional investors can also
access the call via www.streetevents.com.
As400 Additional financial metrics can be found in the "Financial
Reports" section of DoubleClick's Investor Relations website, at
ir.doubleclick.net.
Averatec About DoubleClick
DoubleClick (www.doubleclick.net) is the leading provider of
solutions for advertising agencies, marketers,
and web publishers to plan, execute, and analyze their marketing
programs. DoubleClick's marketing solutions (online advertising,
search engine marketing, affiliate marketing, email marketing,
database marketing, data management, and marketing resource
management) help clients yield the highest return on their
marketing dollar. In addition, the company's marketing analytics
tools help clients measure performance within and across channels.
DoubleClick Inc. has global headquarters in New York City and
maintains 22 offices around the world.
Hardware Note: This press release includes forward-looking statements,
including earnings and revenue projections and plans set forth
under the sections titled "Third Quarter 2004 Outlook," "Full-year
2004 Outlook," and "Revised 2004 Outlook" above, as well as
sentences using the words "expects," "plans," "should", or
"believes" and all other statements that are not purely historical.
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: lack of growth or decline in online advertising or
marketing, changes in government regulation, intense competition in
DoubleClick's industry, 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.
Dual Xeon INVESTOR CONTACT:
Jason McGruder
Manager, Investor Relations
212-381-5182
Storage PRESS CONTACT:
Jennifer Blum
VP, Public Relations
212-381-5705
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