ValueClick announces two executive promotions
Online advertising platform ValueClick Inc. has named two executives to key positions in corporate development and finance. Sam Paisley has been appointed to the newly-created position of chief administrative office and Scott Ray has been named chief financial officer.
Paisley joined the company in 2000 as executive vice president of corporate development and has held various executive level positions since then including chief financial officer, his most recent position prior to the current appointment. As chief administrative officer, he will continue to have responsibility for the company’s corporate development, legal, finance and investor relations functions.
Ray joined ValueClick as general manager of the company’s Mediaplex division in 2002, and was promoted to executive vice president of finance in 2004. As chief financial officer, he will directly manage the company’s worldwide finance, human resources and facilities functions.
For the first quarter, ValueClick Inc., which owns Commission Junction and provides search engine marketing and other advertising services, reported revenues of $51.4 million, up 40% from $36.7 million in 2004’s first quarter. Net income in the quarter dropped 35% to $8.7 million from $13.4 million in the year-earlier period, due to a first-quarter 2004 non-recurring gain of $8 million on the sale of the company’s equity interest in ValueClick Japan, the company said.
For the second quarter, ValueClick said it expects revenue of $52 million to $53 million, which would be about a 52% increase from 2004’s second quarter.
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