ValueClick Inc. said its fourth quarter profit jumped nearly 40 percent as the online advertising services provider saw both strong organic growth and contributions from a recent acquisition.
The Westlake Village company reported net income of $29.4 million (35 cents a share), compared with $21.1 million (26 cents) in the same period a year earlier.
Revenue rose 42 percent to nearly $183 million. The company in September completed its $295 million acquisition of Dotomi, a Chicago “intelligent display” marketing company, which Chief Executive Jim Zarley said had been a strong contributor to revenue.
Adjusted for special items, ValueClick had 52 percent higher net income of 47 cents a share. Analysts surveyed by Thomson Reuters on average had expected the company to report adjusted net income of 29 cents on revenue of less than $176 million.
The company expects first quarter revenue in the range of $155 million to $160 million, adjusted net income per share of 34 to 35 cents and GAAP net income of 22 to 23 cents.
"We will continue to invest in people and in our data, optimization and traffic platforms to expand our presence in the digital marketing industry, and we remain confident in our ability to generate more than $700 million in revenue in 2012,” said Zarley in a statement.
Shares on Wednesday closed up $1.26, or 6.8 percent, to $19.85 on the Nasdaq.