Digital marketing company ValueClick Inc. hit the high end of its second quarter guidance by bringing in $160 million in revenue.
The Westlake Village-based company had forecast revenue between $155 million and $160 million and for the quarter ending June 30.
ValueClick reported a net income of $20.3 million, or $0.25 per diluted share, on revenue of $160 million for the second quarter. That is a 20 percent increase from the net income of $17 million, or $0.21 per diluted share, on revenue of $125 million in the same period in the prior year.
In a statement, the company said it had “another quarter of strong financial results, while further leveraging our unique data, traffic and services capabilities to become a more strategic partner for our clients.”
ValueClick also reported for the quarter: the repurchase of 5.9 million shares of its outstanding common stock and a $100 million increased authorization of the share repurchase program; a $50 million increase in its credit facility, and consolidation of the Mediaplex technology business into the media segment, resulting in three segments: media, affiliate marketing and owned/operated.
For the third quarter, the company has a revenue guidance of $164 million to $169 million.