Digital marketing company ValueClick Inc. of Westlake Village today reported a 28 percent increase in first-quarter earnings on a 31 percent increase in revenue.
The company had net income of $21.6 million, or 26 cents per diluted common share, for the first quarter ended March 31, compared to net income of $16.9 million, or 21 cents per diluted common share for the same period in 2011.
The company also announced the appointment of John Giuliani, president of ValueClick's Dotomi division, to the role of chief operating officer.
"This was an important quarter for ValueClick, as we executed on many of our strategic initiatives,” CEO James R. Zarley said in a prepared statement. He said the company was able to expand its Greystripe mobile business into Europe, accelerate the integrated-sales approach among its divisions, and continue to evolve its Owned & Operated Websites segment.
"We are just scratching the surface of providing a broader range of services to our clients as we execute on our vision of becoming the leading digital marketing services partner for major advertisers," he added.
The company paid down $62.5 million in debt during the quarter.