While the first quarter wasn’t pretty for online marketing firm ValueClick Inc., it wasn’t quite as bad as the company had anticipated.
Q1 revenue fell 20% to $135.04 million from $169.12 million a year earlier. The company had forecast last quarter that Q1 revenue would be between $126 million and $132 million.
The company reported revenue declines in all its divisions, including comparison shopping, media and affiliate marketing, which includes the Commission Junction Network. Comparison shopping revenue fell to $37.51 million, down 34% from $57.02 million a year earlier. Affiliate marketing sales were $27.95 million, a decrease of 10% from $31.20 million. Media revenue, which includes sales of online display advertising, lead generation and behavioral targeting services, dropped to $63.52 million from $74.69 in Q1 of 2008, a 15% decline.
“While advertising spending and budget visibility remain challenged in this macroeconomic environment, our large-scale, performance-based offerings differentiate us competitively and allow us to add value for our advertisers and publishers regardless of market conditions,” says Tom Vadnais, ValueClick CEO.
For the second quarter, ValueClick projects revenue between $124 million and $130 million.
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