UPDATE 1-ValueClick posts flat quarterly profit
(Adds details, share movement)
Nov 1 (Reuters) - Online marketing company ValueClick Inc VCLK.O posted flat quarterly profit, as revenue was hurt by continued weakness in its lead generation business.
Shares of the company, which had lowered its revenue forecast for 2007 in October, were trading at $24.56 in late electronic trade, after closing at $25.08 on the Nasdaq.
Lead generation, through which companies collect personal information by luring consumers with free gifts and sell it to online advertisers, has been the target of a U.S. Federal Trade Commission investigation related to unfair marketing practices.
Third-quarter net income was flat at $16.8 million, or 17 cents a share. Revenue rose 14 percent to $156.9 million helped by acquisitions.
Quarterly results included three months of operations from Shopping.net, acquired in December last year, and two months of operations from MeziMedia, acquired in July 2007, the company said.
Analysts expected earnings of 16 cents a share, excluding exceptional items, on revenue of $156.2 million, according to Reuters Estimates.
For 2007, ValueClick expects earnings of 70 cents to 71 cents a share, including 11 cents for stock-based compensation expense. In July, it had forecast 74 cents to 76 cents a share. Analysts were expecting 71 cents.
It sees revenue of $635 million to $640 million for the year. Analysts were expecting $639.9 million. (Reporting by John Tilak in Bangalore)
© Thomson Reuters 2016 All rights reserved.