DoubleClick Divestitures Results in First Quarter Profitability
DoubleClick Inc., New York, generated $60.1 million in revenue during first quarter 2003, down from $83.7 million a year earlier. Much of the decline was attributable to several businesses the data and technology provider spun off during the year, which include its Media, DoubleClick Japan and Research businesses.
The company was profitable during the quarter. It realized $1.4 million in net income, compared with a net loss of $6 million in first quarter 2002.
Within DoubleClick, the TechSolutions division reported $41.5 million in revenue during the quarter, and the Data division, which includes the Abacus cooperative database, generated $18.5 million. The quarter ended March 31.
DoubleClick cut more than $10 million from its sales and marketing expenses during the year, spending $19.7 million on it during first quarter 2003, compared with $29.8 million a year earlier.
During the second quarter DoubleClick anticipates Data revenue of between $18.5 million and $19.5 million, and TechSolutions of between $12 million and $13 million.
