ValueClick Inc.'s stock surged nearly 20 percent early last week to a high of $9.06 a share on Dec. 9 after the company raised its revenue estimates for 2003, announced 2004 estimates for the first time and finalized a previously announced acquisition.
The Westlake Village-based company said it expects 2003 revenue of $89.5 million to $90 million, up from previous estimates of $87 million to $87.5 million. It also said full-year earnings before interest, taxes, depreciation and amortization will range from $13 million to $14 million, higher than the $12 million to $13 million range previously given. The company also forecast 2004 earnings of 19 to 24 cents a share on sales of $134 million to $138 million.
As of Dec. 10, the stock had settled back to $8.30 a share.
ValueClick, an Internet advertising, firm credited the recent acquisition of Santa Barbara-based search engine marketing firm Commission Junction Inc. as a major reason for its rising estimates.
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