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DoubleClick revenue down, profits up

Published on .

New York--DoubleClick Inc. reported its first-quarter revenues decreased 28% to $60.1 million, from $83.7 million a year earlier. It attributed the decline to the divestiture of its media, research and Japanese operations in 2002. DoubleClick posted first-quarter net earnings of $1.4 million, compared with a net loss of $6.0 million a year earlier. It trimmed operating expenses 32.6% to $38.6 million through cost cutting and divestitures. The company said it expects to be profitable this year. "With several years of unrelenting focus on cost-cutting and transition behind us, DoubleClick is well positioned to take advantage of more favorable economic conditions in the future in order to drive revenue growth, cash flow and profits," said Bruce Dalziel, DoubleClick's CFO.
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