Former Agenda LLC co-owner Seth Haber is tasked with turning around the bankrupt web retailer.
The rise follows a 17% year-over-year increase in Q4 2010 revenue.
ValueClick Inc., a provider of online marketing technology and services that operates comparative shopping sites Smarter.com and PriceRunner.com and the Commission Junction affiliate network, reported today that first quarter revenue rose 22% year over year to $116.5 million from $95.7 million.
That increase follows a 17% rise in the fourth quarter of 2010, when revenue rose to $128.7 million from $110.4 million a year earlier.
The company also reported for the first quarter ended March 31:
● GAAP net income declined 21% year over year to $16.86 million from $21.23 million; GAAP stands for generally accepted accounting principles;
● Non-GAAP net income rose 35% year over year to $20.94 million from $15.55 million. Non-GAAP income excludes costs related to discontinued operations, stock-based compensation and amortization of intangible assets.
● For the Commission Junction affiliate marketing segment, revenue rose 17% year over year to $34.47 million from $29.36 million;
● Revenue from ValueClick Media, which provides online and mobile advertising network services, rose 18% to $36.20 million from $30.80 million;
● Revenue from owned and operated web sites, including Smarter.com and PriceRunner.com and CouponMountain.com, rose 36% to $37.95 million from $27.90 million;
● Revenue from technology rose 2% to $8.08 million from $7.89 million.
In addition, ValueClick announced on April 25 that it had acquired Greystripe Inc., a mobile advertising network for about $70 million in cash. Greystripe is expected to contribute about $24 million to $26 million in revenue for the remainder of this year, ValueClick says.