This story was written by David Kaplan.
Online ad firm ValueClick (NSDQ: VCLK) posted a $261.2 million ($3.01 per share) GAAP net loss from continuing operations on a preliminary, pre-tax $327 million non-cash goodwill impairment charge. That compares to income from continuing operations of $17.6 million ($0.18 per share). If the charge hadn't been included, net income from continuing operations would have been $14.1 million, or $0.16 per diluted common share, at the high end of the guidance range of $0.15 to $0.16 per share.
Revenues also beat the company's previous estimates, though it was surely planning for the worst given the already troubled display ad market. That said, the company's revenues still fell 14.6 percent in the quarter. ValueClick's Q4 revenues were $150.1 million, higher than the previously-issued guidance range of $140 to $145 million. In addition to the woes all companies that depend on display advertising are facing, comparison shopping, affiliate marketing and display ad businesses.
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By David Kaplan