Reuters: Technology News: ValueClick forecasts weak revenue after first-quarter miss

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ValueClick forecasts weak revenue after first-quarter miss May 7th 2013, 21:00 Tue May 7, 2013 5:00pm EDT (Reuters) - Online marketing services provider ValueClick Inc reported a slightly weaker-than-expected quarterly revenue and forecast sales for the current quarter well below estimates, sending its shares down 13 percent in after-hours trading. The company said it was integrating many of its products and geographies, which will disrupt operations in the short term. Net income rose to $26.3 million, or 34 cents per share, in the first quarter, from $21.6 million, or 26 cents per share, a year earlier. Excluding items, the company earned 42 cents per share. Analysts on average expected an adjusted profit of 40 cents per share, according to Thomson Reuters I/B/E/S. Revenue rose 13 percent to $165.4 million, but fell short of analysts' estimates of $166.7 million. ValueClick forecast revenue of $164 million to $168 million for the second quarter, below analysts' expectations of $175.6 million. Shares of the company fell to $27.70 in after-market trading. They closed at $31.74 on the Nasdaq on Tuesday. (Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila) Link this Share this Digg this Email Reprints

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