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ValueClick’s In-Line Numbers Surprisingly Well Tolerated (VCLK)

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By Douglas A. McIntyre Published
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ValueClick Inc. (NASDAQ:VCLK) posted revenues of $156.9 million and EPS of $0.17, versus prior forecasts of $156 to $157 million and $0.16 to $0.17 EPS.

Third quarter 2007 revenue was negatively impacted primarily by continued weakness in the lead generation portion of the Company’s Media business segment, partially offset by better than expected results in the Comparison Shopping segment.

The guidance for next quarter is $172 to $177 million and adjusted EPS $0.17 to $0.18.  Consensus estimates are $0.20 EPS and $177.75 million.  Fourth quarter 2007 guidance for diluted net income per common share includes a reduction of $0.03 per diluted common share for stock-based compensation expense and assumes a 42.5% net effective income tax rate.

The company is lucky the reaction wasn’t worse, because it is trading up under 1% in after-hours trading.  There must at least be some relief that Microsoft-aQuantive and Google-DoubleClick (if that one is allowed) is not going to destroy the company.  Shares closed down 7.7% at $25.08 in regular trading, and the 52-week trading range is $18.06 to $36.70.

Jon C. Ogg
November 1, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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