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Press Release Category Business - Financial - ValueClick, Inc. Release Date: August 03, 2004

ValueClick Reports Second Quarter 2004 Results


By ValueClick, Inc.
August 03, 2004
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ValueClick, Inc. (Nasdaq:VCLK), the single-source provider of media, technology and services across all major interactive marketing channels, today reported financial results for the second quarter ended June 30, 2004.

PR9.NET August 03, 2004 - For the quarter ended June 30, 2004, ValueClick reported revenue of $34.6 million, which was an increase of $14.5 million, or 72 percent, from revenue of $20.1 million for the second quarter of 2003. Second quarter 2004 results include a full quarter of operations from Search123, Commission Junction and Hi-Speed Media, acquired in late May 2003, early December 2003 and late December 2003, respectively. Second quarter 2003 results include one month of operations from Search123, acquired in late May 2003, and a full quarter of operation from ValueClick Japan, which was sold on March 26, 2004.

Second quarter 2004 income before taxes and minority interest was $6.7 million compared to $1.6 million for the second quarter of 2003. Net income for the second quarter of 2004 was $5.5 million, or $0.07 per diluted common share, compared to net income of $1.3 million, or $0.02 per diluted common share, for the second quarter of 2003. Second quarter 2004 net income before interest, taxes, depreciation, and amortization (EBITDA(1) was $8.3 million compared to $2.5 million for the second quarter of 2003.

The June 30, 2004 consolidated balance sheet remained strong with $239.3 million in cash, cash equivalents and marketable securities, $231.0 million in working capital and $301.9 million in total stockholders' equity. Cash provided by operations for the second quarter of 2004 was approximately $8.2 million, and as of June 30, 2004 the cash, cash equivalents and marketable securities balance represented $2.99 per outstanding common share.

2004 Guidance

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any mergers, acquisitions or other business combinations that may be completed after the date of this release.

Based on its outlook for the remainder of the year, ValueClick is confirming its fiscal year 2004 guidance. ValueClick continues to anticipate fiscal year 2004 revenue in the range of $147 million to $150 million, an approximate 60 percent increase in revenue from fiscal year 2003. Excluding the $8.0 million one-time gain related to the March 2004 sale of ValueClick Japan, the Company expects diluted net income per share in the range of $0.26 to $0.29, and EBITDA in the range of $38.0 million to $40.0 million for fiscal year 2004.

For the third quarter of 2004, ValueClick anticipates revenue in the range of $36 million to $37 million, an approximate 60 percent increase in revenue from the third quarter of 2003. The Company expects diluted net income per share of approximately $0.06 in the third quarter of 2004. EBITDA for the third quarter of 2004 is expected to be in the range of $8.0 million to $9.0 million.

"We generated year-over-year organic revenue growth of 30 percent this quarter, but we are not satisfied with our results," said James Zarley, chairman and chief executive officer of ValueClick. "Given the positive trends in online branded and performance-based advertising, the breadth of our offerings and the focus of our management team, we are confident in our ability to execute to meet our fiscal year 2004 growth and profitability objectives."

Second Quarter 2004 Conference Call Today

James Zarley, chairman and chief executive officer, and Sam Paisley, chief financial officer, will present an overview of the results and other factors affecting financial performance for the quarter during a webcast on August 3, 2004 at 1:30PM PT. Investors and analysts may obtain dial-in information through StreetEvents (www.streetevents.com).

The live webcast and other information of potential interest to investors will be available to the public in the Investor Relations section of the Company's website (www.valueclick.com). Please allow 15 minutes prior to the call to download and install any necessary audio software. An archive of the webcast will be available in the Investor Relations section of the Company's website for seven days after the call. An archived audio replay will be available for seven days after the call and may be accessed at 888-203-1112 for domestic and 719-457-0820 for international callers. The passcode is 562768.


# # #

Contact Information of ValueClick, Inc. Contact Information of ValueClick, Inc.
Phone (818) 575-4677
Website http://www.valueclick.com


About ValueClick, Inc.

ValueClick, Inc. (Nasdaq:VCLK) is the single-source provider of media, technology and related services that enable advertisers, agencies and publishers to reach consumers in all major online marketing channels, through our three business units:

- ValueClick Media (http://media.valueclick.com) provides a wide range of online marketing solutions - including Web Marketing, Email Marketing, Lead Generation Marketing, and Search Marketing - to create awareness, build brands, deliver targeted visitors, generate leads, drive sales, and grow customer relationships.

- Commission Junction (www.cj.com) provides advanced performance marketing solutions that help marketers increase online leads and sales. By facilitating strategic relationships between advertisers and publishers, Commission Junction leverages its proven expertise in affiliate marketing, optimized advertising and search marketing to drive measurable results for its clients.

- Mediaplex (www.mediaplex.com) provides technology and services that help advertisers, agencies and Web site publishers manage their online advertising and permission-based email campaigns. In addition, the AdWare subsidiary (www.adware.com) provides software and services that help advertising agencies and other companies operate their businesses more efficiently, through effective agency management, media management, and content management.


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