DoubleClick Trims Net Loss in First Quarter
DoubleClick Inc. posted a net loss of $6 million for the first quarter, a massive shrinking from a $60.4 million loss one year ago.
The online advertising firm reported revenue of $83.7 million for the quarter, down from $114.9 million last year. The quarter ended March 31.
Two factors contributed to the reduction in the company’s loss. In first quarter 2001 the New York-based firm took a $29 million restructuring charges. For the quarter just ended, restructuring costs were kept to $1.4 million. Additionally, the company cut its sales and marketing expenses from $50.4 million a year ago to $29.8 million.
DoubleClick’s data division generated $18.2 million, roughly equal to what it made a year ago. Revenue from its Media division fell from $46.1 million to $16.3 million. During the quarter DoubleClick sold the media division’s European business to AdLINK Internet Media AG, and its e-mail list services operations to infoUSA.
TechSolutions, which includes the company’s DART and e-mail operations as well as its newly acquired MediaMessage business, saw its revenue slip from $54.9 million to $50.4 million.
