ValueClick (ticker: VCLK) blew out Q4 earnings numbers. Details:
(all percentages changes and comparisons are year on year, unless stated otherwise)
- EPS was $0.16. Consensus was $0.10.
- Revenue was $54.4 million, up 80%. Consensus was $47.3 million.
- Organic revenue growth was 49%.
- Revenue upside came from Affiliate Marketing and Media.
- Gross margin was 72%, up from 67%.
- Operating margins were 27%.
- EBITDA margin was 32%.
- Pre-tax income was $15.9 million, up from $5.3 million.
- Cash at end-quarter was $243 million.
- Media Segment: revs up 71% (organic) to $32.9 million, gross margin of 59% up from 51% due to greater mix from Hi-Speed Media in the US and PriceRunner in Europe. Particular strength in banner business.
- Affiliate Marketing Segment: revs up 83% (34% organic) to $17.8 million (full quarter of Commission Junction vs. only one month in Q4 '03), gross margin 88% vs. 81%.
- Technology Segment: revs $5.6 million vs. $6.1 million, gross margin 76% vs. 80%.
- EPS of $0.08 versus consensus of $0.08.
- Revenue of $48-49 million, up 32%, versus consensus of $47.9 million.
Full Year 2005 Guidance
- EPS of $0.37-0.39 versus prior guidance of $0.34-0.36 and consensus of $0.37.
- Revenue of $215-220 versus prior guidance of $210 million and consensus of $213.1 million.
- EBITDA of $54-56 million versus prior guidance of $52.5 million.
Full press release here. VCLK chart below.