ValueClick profits jump 33%, firm to sell sites
Online advertising firm ValueClick’s third-quarter profits jumped 33 percent to $22.1 million on slightly higher revenue of $134.1 million, and the firm announced plans to sell off company-owned websites such as Investopedia.com and CouponMountain.com.
“We delivered strong profitability and cash flow in the third quarter, driven by a continued mix shift into our higher-value-added offerings,” ValueClick CEO and President John Giuliani said in a news release. “Solid year-over-year growth in our CRM, affiliate marketing, mobile, video and cross-device solutions was offset by weakness in our insertion order display business within the media segment.”
Westlake Village-based ValueClick said Nov. 5 that net income from continuing operations was 30 cents per diluted share, an increase of 36 percent year-over-year. But the firm also announced plans to divest its company-owned and operated websites, which include Investopedia, PriceRunner, Smarter.com, SymptomFind and CouponMountain.com. ValueClick said it has reclassified the Monrovia-based segment’s current and historical operating results as discontinued operations but will continue to operate the sites until a buyer is found.
“Being able to focus entirely on our core media and affiliate marketing segments, which together currently represent more than 90 percent of our profitability, will allow us to direct management attention and capital resources to better serve our clients, employees and shareholders,” Giuliani said.
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