Having already warned investors two weeks in advance that weakness in display advertising would mean a rough second half, online ad company ValueClick (NSDQ: VCLK) said Q2 net income was $16.5 million ($0.17 per diluted common share) down 6.3 percent from last year's $17.6 million ($0.17 per diluted common share). Revenue for the quarter of 2008 was $163.8 million, a 10 percent rise from $148.7 million in Q207, thanks in part to a boost from MeziMedia, which ValueClick bought in July 2007. Details from the lead gen company's Q2 report included:
-- The $163.8 million in revenue was one percent below the low end of the $166- to $170 million guidance range issued on May 6, but within the $163 to $164 million range ValueClick warned of earlier this month.
-- Adjusted-EBITDA of $43.5 million was above the $40 to $42 million guidance range issued back in May; and diluted net income per common share of $0.17 was above the high end of the $0.15 to $0.16 guidance range at that time as well.
By David Kaplan