Doubleclick: Umsatz steigt von 68 Mio. auf 76,3 Mio. US-Dollar
DoubleClick gibt Geschäftszahlen für das erste Quartal 2005 bekannt. Umsatzsteigerung von 68 Mio. auf 76,3 Mio. US-Dollar. Verlust: 0,9 Mio.
New York, 21. April 2005. DoubleClick, der führende Anbieter von Marketinglösungen für Media-Agenturen, Medienunternehmen und Werbetreibende, veröffentlicht die Unternehmenszahlen für das erste Geschäftsquartal 2005.
Das Unternehmen verbuchte für das erste Quartal 2005 einen Umsatz von 76,3 Mio. US-Dollar im Vergleich zu 68 Mio. US-Dollar im Vorjahreszeitraum. Der Verlust gemäß Generally Accepted Accounting Principles (GAAP) betrug 0,9 Mio. US-Dollar oder 1 Cent je Aktie, im Vergleich zu einem Gewinn von 7,7 Mio. US-Dollar oder 5 Cent je Aktie im ersten Quartal 2004. DoubleClick konnte im Quartal eine Bruttogewinnspanne von 69,4 Prozent erreichen, im Vergleich zu 66,8 Prozent im ersten Quartal 2004. Das Ergebnis vor Zinsen, Steuern und Abschreibungen (EBITDA) betrug im ersten Quartal 5,3 Mio. US-Dollar, im Vergleich zu 14,6 Mio. US-Dollar im Vorjahreszeitraum. Die Betriebsausgaben nach GAAP lagen im ersten Quartal bei 56,7 Mio. US-Dollar, im Vergleich zu 42,9 Mio. US-Dollar im ersten Quartal 2004.
Im Segment TechSolutions erzielte das Unternehmen im ersten Quartal 2005 einen Umsatz von 51,5 Mio. US-Dollar im Vergleich zu 45,3 Mio. US-Dollar im Vergleichszeitraum 2004. Die Bruttogewinnspanne konnte auf 74,5 Prozent gesteigert werden; sie lag im Vergleichszeitraum bei 70,4 Prozent. Im Segment Data erzielte das Unternehmen im ersten Quartal 2005 einen Umsatz von 24,8 Mio. US-Dollar, im Vergleich zu 22,8 Mio. im ersten Quartal 2004.
Im Folgenden finden Sie die komplette Pressemitteilung im amerikanischen Original.
DOUBLECLICK REPORTS FIRST QUARTER 2005 RESULTS
NEW YORK, NY, April 21, 2005 – DoubleClick Inc. (NASDAQ: DCLK), the leading provider of data and technology solutions for marketers, advertising agencies and web publishers, today announced financial results for the first quarter ended March 31, 2005, and gave its business outlook for the second quarter of 2005.
GAAP Net Income (Loss) (000’s)
First Quarter Results
DoubleClick recorded $76.3 million in revenue for the first quarter compared to $68.0 million in the year-ago period. GAAP net loss for the most recent quarter was $0.9 million, or $0.01 per share, compared with GAAP net income of $7.7 million, or $0.05 per share, in the first quarter of 2004. The Company achieved a gross margin of 69.4% during the quarter against 66.8% in the year-ago period. EBITDA was $5.3 million for the first quarter of 2005, versus $14.6 million in 1Q04. Total GAAP operating expenses were $56.7 million in the quarter, versus $42.9 million in the first quarter of 2004. Total company headcount was 1,540 as of March 31, 2005, against 1,275 twelve months prior. The increase in headcount stemmed primarily from the addition of Performics and SmartPath, which were acquired in June and March of 2004, respectively, as well from additional hiring in the Ad Management, Abacus, and Data Management Solutions (DMS) businesses.
First quarter 2005 GAAP net income and EBITDA were negatively impacted by the accrual of retention payments and professional fees associated with the Company’s ongoing review of its strategic options. First quarter 2004 GAAP net income and EBITDA benefited from a distribution from MaxWorldwide, Inc. of approximately $2.4 million in connection with its plan of liquidation and dissolution and the reversal of a $1.5 million reserve relating to a prior acquisition.
“We saw continued profitability in Ad Management and had strong results from our Search Engine and Affiliate Marketing business,” said Kevin Ryan, Chief Executive Officer, DoubleClick. “In addition, we recently signed an important agreement with AOL which, once fully implemented, we expect to be the largest Ad Management deal in DoubleClick’s history.”
Balance Sheet and Cash Flow
DoubleClick used $1.7 million in cash flow from operations during the first quarter, compared to a use of $7.4 million in the year ago period. The year-over-year improvement in quarterly cash flow from operations resulted primarily from an absence of lease termination payments and stronger working capital, which was partially offset by lower net income. The Company had $537.3 million in cash and marketable securities, and had a net cash position of $402.3 million, or $3.19 per share, as of March 31, 2005.
The TechSolutions segment reported first quarter revenue of $51.5 million versus $45.3 million in 1Q04. TechSolutions gross margin was 74.5%, versus 70.4% in the March quarter of 2004. TechSolutions operating margin was 12.9%, versus 18.8% in the first quarter of 2004.
The year-over-year quarterly revenue increase stemmed primarily from the inclusion of the results for Performics and SmartPath, as well as from organic growth from Email products. This increase was partially offset by a year-over-year decline in quarterly sales for the Company’s Ad Management solutions.
TechSolutions gross margin improved primarily because of reduced costs in Ad Management, an increase in revenues in Marketing Automation, and the addition of the relatively high gross margin Search and Affiliate businesses. TechSolutions operating margin declined primarily due to an increase in headcount and higher amortization expenses primarily related to the acquisitions of Performics and SmartPath, and due to costs incurred in anticipation of DoubleClick’s Ad Management agreement with AOL. Operating expenses in the first quarter of 2004 benefited from the previously mentioned reversal of a $1.5 million reserve relating to a prior acquisition.
The Company’s Ad Management revenue was $31.7 million in 1Q05 versus $33.3 million in the year-ago period. These declines were principally due to pricing declines outweighing volume increases for DoubleClick’s Advertiser and Publisher solutions. These declines were partially offset by an increase in revenue for DoubleClick’s Rich Media offering.
Earlier this month, America Online and DoubleClick entered into an agreement to bring state-of-the-art ad serving, inventory management, workflow tools, and delivery operations to AOL Media Networks. AOL Media Networks, the ad sales, commerce and search arm of America Online, which also handles the marketing of the AOL web brands, includes AOL, AOL.com, AOL Instant Messenger, Compuserve, Netscape, Mapquest, Moviefone, Time Inc. Interactive, CNN, CNNMoney, and icq. These properties reach upwards of 104 million people. DoubleClick’s Ad Management platform for publishers, which is being piloted on Mapquest now, is expected to be implemented across all AOL brands later this year.
“Our new agreement with AOL is a tremendous endorsement of our technology and service, and demonstrates our long-term competitiveness as the industry standard in online ad management,” added Ryan. “AOL already uses multiple DoubleClick products, and this latest agreement rounds out our growing and significant relationship with one of the world’s largest interactive services companies.”
In addition, DoubleClick has recently reached several other agreements for use of its Ad Management solutions. These deals include American Idol, Bannerconnect, Classes USA, Teleflora, Tomorrow Focus AG, and Warner Brothers Online.
The Company’s Marketing Automation products had revenue of $13.5 million in the most recent quarter, against $12.0 million in 1Q04. The increase was due primarily to the addition of SmartPath and organic growth in Email revenues.
Since the beginning of the year, DoubleClick has signed new Marketing Automation contracts with several clients including Penton UK, Janoschka Group, Staples, Hong Kong Trade Development Council, and WhiteFence.
The Company’s Search Engine and Affiliate Marketing products recorded revenue of $6.3 million in 1Q05, which was a 50.5% increase over 1Q04. DoubleClick acquired Performics in June of 2004.
Agreements to use the division’s solutions have recently been reached with Biotherm, Capital One Auto Finance, Gloss.com, Household’s GM and Union Plus Cards, Kiels, Singer Direct, and The TJX Companies.
DoubleClick reported Data segment revenue of $24.8 million in 1Q05, compared to $22.8 million in 1Q04. Overall Data gross margin was 58.8% for the quarter, against 59.7% in the prior year period. Data’s operating margin was 6.2% in the quarter, versus 11.1% in the comparable year ago timeframe. Data segment margins declined primarily because a higher percentage of sales were generated by the lower margin DMS business.
Abacus quarterly revenue was $20.7 million versus $20.4 million in the year-ago period. Increases in revenue from the U.S. Business to Business Alliance were offset by lower revenues from U.S. and U.K. Business to Consumer cataloguers. During the quarter, DoubleClick added over 200 net new members across all wholly owned Abacus Alliances globally, bringing the total to over 2,700.
DMS generated $4.1 million in revenue for 1Q05 against the year-ago quarter’s $2.4 million. The increase was driven primarily by the completion of existing customer installations coupled with new client wins.
“We have made a significant investment in our Data Management business, and this has really begun to pay off in terms of new customer wins and more business from existing clients,” said Brian Rainey, President of Abacus. “As a result, we have had three consecutive quarters of double-digit year-on-year revenue growth in DMS.”
Second Quarter 2005 Outlook
DoubleClick expects 2Q05 revenue to be between $71 million and $77 million. The Company expects total Company gross margin to be in low 70s percentage range. GAAP operating expenses are expected to be between $54 million and $58 million. Items in interest and other, net and taxes are expected to be approximately $2 million, based on an assumed tax rate of approximately 15%. The Company anticipates recording GAAP earnings of between ($0.02) and $0.02 per share.
The Company’s segment projections for 2Q05 are as follows:
Ø TechSolutions revenue is expected to be between $47 million and $52 million, including $29 million to $33 million from Ad Management, $12 million to $14 million from Marketing Automation, and $6 million to $7 million from Performics. Overall TechSolutions gross margin is expected to be in the mid 70s percentage range.
Ø Data revenue is expected to be between $24 million and $26 million, including $20 million to $22 million from Abacus; overall Data gross margin should be in the high 50s to low 60s percentage range.
Additional financial metrics can be found in the "Financial Reports" section of DoubleClick's Investor Relations website, at ir.doubleclick.net.
DoubleClick is the leading provider of data and technology solutions for advertising agencies, marketers, and web publishers to plan, execute, and analyze their marketing programs. DoubleClick's marketing solutions help clients yield the highest return on their marketing dollar. DoubleClick Inc. has global headquarters in New York City and maintains 22 offices around the world.