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Exhibit 99.1

Contact:
Gary J. Fuges, CFA
ValueClick, Inc.
1.818.575.4677

VALUECLICK ANNOUNCES FOURTH QUARTER 2010 RESULTS

Revenue and Profitability Exceed High-End of Guidance Ranges

Westlake Village, CA – February 15, 2011 – ValueClick, Inc. (Nasdaq: VCLK) today reported financial results for the fourth quarter and fiscal year ended December 31, 2010. Fourth quarter revenue, adjusted-EBITDA1, and earnings per share metrics all exceeded the high-end of the guidance ranges management provided on November 3, 2010.

Highlights from the fourth quarter 2010 results include:

    Revenue of $128.7 million, up 17 percent from the fourth quarter of 2009 (Q4 2009)

    Adjusted-EBITDA of $41.9 million, up 19 percent from Q4 2009

    Adjusted-EBITDA margin of 32.5 percent versus 31.8 percent in Q4 2009

    GAAP net income from continuing operations of $0.26 per diluted share versus $0.20 in Q4 2009

“The fourth quarter capped a successful year for ValueClick, where we streamlined our offerings, invested for the long-term, and delivered revenue growth and margin expansion,” said Jim Zarley, chief executive officer of ValueClick. “Our momentum in the quarter is setting the tone for 2011, and we remain confident in our ability to capitalize on our industry’s growth opportunities to generate strong financial performance while investing in growth initiatives across all of our businesses.”

Non-GAAP net income, which excludes discontinued operations, stock-based compensation and amortization of intangible assets was $25.5 million, or $0.31 per diluted common share for the fourth quarter. A table reconciling GAAP net income from continuing operations to non-GAAP diluted net income per common share is included in this press release.

The consolidated balance sheet as of December 31, 2010 includes approximately $197 million in cash, cash equivalents and marketable securities and no debt. The Company generated approximately $90 million in free cash flow, defined as cash flow from operations less net capital expenditures, in fiscal year 2010.

     
1 Adjusted-EBITDA is defined as GAAP (Generally Accepted Accounting Principles) net income from continuing operations before interest, income taxes, depreciation, amortization, and stock-based compensation expenses. Please see the attached schedule for a reconciliation of GAAP net income to adjusted-EBITDA, and a discussion of why the Company believes adjusted-EBITDA is a useful financial measure to investors and how Company management uses this financial measure.

Business Outlook
Today, ValueClick is announcing guidance for the first quarter of 2011:

         
    Guidance
Revenue
  $111-$113 million
Adjusted-EBITDA
  $31-$32 million
Mid-Point Adjusted-EBITDA Margin
    ~28 %
GAAP diluted net income per common share
  $ 0.16-$0.17  
Non-GAAP diluted net income per common share
  $ 0.21-$0.22  

The consolidated revenue guidance range is based on the following segment-level assumptions for revenue growth rates expressed as a percentage increase from first quarter 2010 reported revenue levels:

    Affiliate Marketing: up low double-digits

    Media: up low double-digits

    Owned & Operated: up high twenties to low thirties

    Technology: up low to mid single-digits

First quarter 2011 non-GAAP and GAAP diluted net income per common share guidance assume stock-based compensation of $2.0 million, amortization of intangible assets of $5.0 million, interest and other income of $1.0 million, a 41 percent effective tax rate, and 82.0 million diluted shares outstanding.

Conference Call Today at 4:30 p.m. ET
Jim Zarley, chief executive officer, and John Pitstick, chief financial officer, will present an overview of the results and other factors affecting ValueClick’s financial performance for the fourth quarter during a conference call and webcast on February 15 at 4:30 p.m. ET. Investors and analysts may obtain the dial-in information through StreetEvents (www.streetevents.com). The live Webcast of the conference call will be available on the Investor Relations section of www.valueclick.com. A replay of the conference call will be available through February 22 at (888) 203-1112 and (719) 457-0820 (pass code: 4951342). An archive of the Webcast will also be available through February 22.

About ValueClick
ValueClick, Inc. (Nasdaq: VCLK) is one of the world’s largest integrated online marketing services companies, offering comprehensive and scalable solutions to deliver cost-effective customer acquisition for advertisers and transparent revenue streams for publishers. ValueClick’s performance-based solutions allow its customers to reach their potential through multiple online marketing channels, including affiliate marketing, display advertising, , and comparison shopping. ValueClick’s brands include Commission Junction, ValueClick Media, Mediaplex, Smarter.com, CouponMountain.com, Investopedia.com, and PriceRunner. For more information, please visit www.valueclick.com.

This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, the risk that market demand for on-line advertising in general, and performance based on-line advertising in particular, will not grow as rapidly as predicted, and the risk that legislation and governmental regulation could negatively impact the Company’s performance. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under “Risk Factors” and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including, but not limited to: its annual report on Form 10-K filed on February 26, 2010; recent quarterly reports on Form 10-Q; and other current reports on Form 8-K.

The Business Outlook contained in this release is based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any mergers, acquisitions or other business combinations that may be completed after the date of this release. Actual stock-based compensation may differ from these estimates based on the timing and amount of stock awards granted, the assumptions used in stock award valuation and other factors. Actual income tax expense may differ from these estimates based on tax planning, changes in tax accounting rules and laws, and other factors.

ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

###

1

VALUECLICK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

                                                                 
                                 
        December 31,       December 31,
        2010       2009
                   
ASSETS
                                                               
CURRENT ASSETS:
                                                               
Cash and cash equivalents
                  $ 194,317                     $         158,497          
Marketable securities
                    3,000                                        
Accounts receivable, net
                    86,738                               68,484          
Other current assets
                    18,470                               20,856          
Assets held for sale
                                                  11,098          
 
                                                               
Total current assets
                    302,525                               258,935          
Assets held for sale, less current portion
                                                  25,777          
Note receivable, less current portion
                    31,267                                        
Marketable securities, less current portion
                                                  22,026          
Property and equipment, net
                    12,414                               11,272          
Goodwill
                    183,218                               157,123          
Intangible assets, net
                    33,525                               38,718          
Other assets
                    50,618                               52,711          
 
                                                               
TOTAL ASSETS
                  $ 613,567                     $         566,562          
 
                                                               
 
                                                               
LIABILITIES AND STOCKHOLDERS’ EQUITY
                                                               
Current liabilities
                  $ 103,258                             $ 98,404          
Non-current liabilities
                    37,668                               61,669          
 
                                                               
Total liabilities
                    140,926                               160,073          
Total stockholders’ equity
                    472,641                               406,489          
 
                                                               
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
                  $ 613,567                     $         566,562          
 
                                                               

2

VALUECLICK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

                                 
    Three-month Period        
    Ended December 31,        
    (Unaudited)        
    2010       2009        
 
                               
Revenue
  $ 128,747             $ 110,394          
Cost of revenue
    35,455               31,173          
 
                               
Gross profit
    93,292               79,221          
Operating expenses:
                               
Sales and marketing (Note 1)
    31,319               27,228          
General and administrative (Note 1)
    14,019               14,434          
Technology (Note 1)
    9,924               6,179          
Amortization of intangible assets acquired in business combinations
    5,333               4,999          
Total operating expenses
    60,595               52,840          
 
                               
Operating income from continuing operations
    32,697               26,381          
Interest and other income (expense), net
    1,891               (176 )        
 
                               
Income before income taxes from continuing operations
    34,588               26,205          
Income tax expense
    13,526               8,834          
 
                               
Net income from continuing operations
    21,062               17,371          
Loss from discontinued operations, net of tax impact
                  (1,874 )        
 
                               
Net income
  $ 21,062             $ 15,497          
 
                               
Basic net income from continuing operations per common share
  $ 0.26             $ 0.20          
 
                               
Diluted net income from continuing operations per common share
  $ 0.26             $ 0.20          
 
                               
Basic net income per common share
  $ 0.26             $ 0.18          
 
                               
Diluted net income per common share
  $ 0.26             $ 0.18          
 
                               
Weighted-average shares used to compute basic net income per common share
    80,817               85,779          
 
                               
Weighted-average shares used to compute diluted net income per common share
    81,837               86,384          
 
                               

Note 1 – Includes stock-based compensation as follows:

                         
    Three-month Period        
    Ended December 31,        
    (Unaudited)        
    2010   2009        
Sales and marketing
  $ 363     $ 355          
General and administrative
    1,457       1,361          
Technology
    286       197          
 
                       
Total stock-based compensation
  $ 2,106     $ 1,913          
 
                       

3

VALUECLICK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

                                 
    Year Ended December 31,        
    (Unaudited)        
    2010       2009        
 
                               
Revenue
  $ 430,798             $ 422,723          
Cost of revenue
    116,802               116,509          
 
                               
Gross profit
    313,996               306,214          
Operating expenses:
                               
Sales and marketing (Note 1)
    112,282               118,457          
General and administrative (Note 1)
    53,536               60,373          
Technology (Note 1)
    35,047               25,050          
Amortization of intangible assets acquired in business combinations
    20,611               19,803          
Total operating expenses
    221,476               223,683          
 
                               
Operating income from continuing operations
    92,520               82,531          
Interest and other income, net
    2,204               302          
 
                               
Income before income taxes from continuing operations
    94,724               82,833          
Income tax expense
    14,120               21,264          
 
                               
Net income from continuing operations
    80,604               61,569          
(Loss) income from discontinued operations, net of tax impact
    (134 )             7,047          
Gain on sale, net of tax
    10,040                        
 
                               
Net income
  $ 90,510             $ 68,616          
 
                               
Basic net income from continuing operations per common share
  $ 0.99             $ 0.71          
 
                               
Diluted net income from continuing operations per common share
  $ 0.98             $ 0.71          
 
                               
Basic net income per common share
  $ 1.11             $ 0.79          
 
                               
Diluted net income per common share
  $ 1.10             $ 0.79          
 
                               
Weighted-average shares used to compute basic net income per common share
    81,615               86,716          
 
                               
Weighted-average shares used to compute diluted net income per common share
    82,334               87,210          
 
                               

Note 1 – Includes stock-based compensation as follows:

                         
    Year Ended December 31,        
    (Unaudited)        
    2010   2009        
Sales and marketing
  $ 1,280     $ 1,907          
General and administrative
    5,815       6,034          
Technology
    849       928          
 
                       
Total stock-based compensation
  $ 7,944     $ 8,869          
 
                       

4

VALUECLICK, INC.
RECONCILIATION OF NET INCOME FROM CONTINUING
OPERATIONS TO ADJUSTED-EBITDA (Note 1)
(In thousands)

                                 
    Three-month Period        
    Ended December 31,        
    (Unaudited)        
    2010           2009        
Net income from continuing operations
  $ 21,062             $ 17,371          
Interest and other (income) expense, net
    (1,891 )             176          
Provision for income tax
    13,526               8,834          
Amortization of intangible assets acquired in business combinations
    5,333               4,999          
Depreciation and leasehold amortization
    1,742               1,795          
Stock-based compensation
    2,106               1,913          
 
                               
Adjusted-EBITDA
  $ 41,878             $ 35,088          
 
                               
                         
    Year Ended December 31,
    (Unaudited)
    2010           2009
Net income from continuing operations
  $ 80,604             $ 61,569  
Interest and other (income) expense, net
    (2,204 )             (302 )
Provision for income taxes
    14,120               21,264   
Amortization of intangible assets acquired in business combinations
    20,611               19,803  
Depreciation and leasehold amortization
    6,620               7,563  
Stock-based compensation
    7,944               8,869  
 
                       
Adjusted-EBITDA
  $ 127,695             $ 118,766   
 
                       

Note 1 “Adjusted-EBITDA” (GAAP net income from continuing operations before interest, income taxes, depreciation, amortization, and stock-based compensation expenses) included in this press release is a non-GAAP financial measure.

Adjusted-EBITDA, as defined above, may not be similar to adjusted-EBITDA measures used by other companies and is not a measurement under GAAP. Management believes that adjusted-EBITDA provides useful information to investors about the Company’s performance because it eliminates the effects of period-to-period changes in income from interest on the Company’s cash and marketable securities and the costs associated with income tax expense, capital investments, and stock-based compensation which are not directly attributable to the underlying performance of the Company’s business operations. Management uses adjusted-EBITDA in evaluating the overall performance of the Company’s business operations.

Though management finds adjusted-EBITDA useful for evaluating aspects of the Company’s business, its reliance on this measure is limited because excluded items often have a material effect on the Company’s earnings and earnings per common share calculated in accordance with GAAP. Therefore, management uses adjusted-EBITDA in conjunction with GAAP earnings and earnings per common share measures. The Company believes that adjusted-EBITDA provides investors with an additional tool for evaluating the Company’s core performance, which management uses in its own evaluation of overall performance, and a base-line for assessing the future earnings potential of the Company. While the GAAP results are more complete, the Company prefers to allow investors to have this supplemental metric since, with a reconciliation to GAAP, it may provide greater insight into the Company’s financial results.

5

VALUECLICK, INC.
RECONCILIATION OF GAAP NET INCOME FROM CONTINUING OPERATIONS TO NON-GAAP DILUTED NET INCOME PER
COMMON SHARE (Note 1)
(In thousands)

                                 
    Three-Month Period
    Ended December 31,
    2010           2009        
GAAP net income from continuing operations
  $ 21,062             $ 17,371          
Stock-based compensation
    2,106               1,913          
Amortization of intangible assets acquired in business combinations
    5,333               4,999          
Tax impact of above items
    (2,955 )             (2,664 )        
 
                               
Non-GAAP net income
  $ 25,546             $ 21,619          
 
                               
Non-GAAP diluted net income per common share
  $ 0.31             $ 0.25          
 
                               
Weighted-average shares used to compute non-GAAP diluted net income per common share
    81,837               86,384          
 
                               
                                 
    Year Ended December 31,
    2010           2009        
GAAP net income from continuing operations
  $ 80,604             $ 61,569          
Stock-based compensation
    7,944               8,869          
Amortization of intangible assets acquired in business combinations
    20,611               19,803          
Tax impact of above items
    (11,220 )             (10,821 )        
 
                               
Non-GAAP net income
  $ 97,939             $ 79,420          
 
                               
Non-GAAP diluted net income per common share
  $ 1.19             $ 0.91          
 
                               
Weighted-average shares used to compute non-GAAP diluted net income per common share
    82,334               87,210          
 
                               

Note 1 – “Non-GAAP diluted net income per common share” (GAAP diluted net income from continuing operations per common share before the impact of stock-based compensation, amortization of intangibles, and other non-recurring events) included in this press release is a non-GAAP financial measure.

Non-GAAP diluted net income per common share, as defined above, may not be similar to non-GAAP diluted net income per common share measures used by other companies and is not a measurement under GAAP. Management believes that non-GAAP diluted net income per common share provides useful information to investors about the Company’s performance because it eliminates the effects of items which are not directly attributable to the underlying performance of the Company’s business operations. Management uses non-GAAP diluted net income per common share in evaluating the overall performance of the Company’s business operations.

Though management finds non-GAAP diluted net income per common share useful for evaluating aspects of the Company’s business, its reliance on this measure is limited because excluded items often have a material effect on the Company’s earnings and earnings per common share calculated in accordance with GAAP. Therefore, management uses non-GAAP diluted net income per common share in conjunction with GAAP earnings and earnings per common share measures. The Company believes that non-GAAP diluted net income per common share provides investors with an additional tool for evaluating the Company’s core performance, which management uses in its own evaluation of overall performance, and a base-line for assessing the future earnings potential of the Company. While the GAAP results are more complete, the Company prefers to allow investors to have this supplemental metric since, with a reconciliation to GAAP, it may provide greater insight into the Company’s financial results.

6

VALUECLICK, INC.
SEGMENT OPERATING RESULTS
(Unaudited)
(In thousands)
(Note 1)

                                                 
    Three-month Period Ended Year Ended
    December 31, December 31,
    2010           2009   2010           2009
Affiliate Marketing:
                                               
Revenue
  $ 36,188           $ 31,544   $ 124,126           $ 111,903
Cost of revenue
  4,667           4,005   17,215           15,617
 
                                               
Gross profit
  31,521           27,539   106,911           96,286
Operating expenses
  9,832           9,244   37,359           38,165
 
                                               
Segment income from operations
  $ 21,689           $ 18,295   $ 69,552           $ 58,121
 
                                               
Media:
                                               
Revenue
  $ 41,726           $ 40,149   $ 137,487           $ 135,086
Cost of revenue
  23,102           21,013   74,102           71,320
 
                                               
Gross profit
  18,624           19,136   63,385           63,766
Operating expenses
  8,056           7,295   29,760           30,505
 
                                               
Segment income from operations
  $ 10,568           $ 11,841   $ 33,625           $ 33,261
 
                                               
Owned & Operated Websites:
                                               
Revenue
  $ 42,749           $ 31,771   $ 138,545           $ 149,599
Cost of revenue
  7,117           5,715   23,107           27,002
 
                                               
Gross profit
  35,632           26,056   115,438           122,597
Operating expenses
  25,196           18,917   87,475           87,563
 
                                               
Segment income from operations
  $ 10,436           $ 7,139   $ 27,963           $ 35,034
 
                                               
Technology:
                                               
Revenue
  $ 8,484           $ 7,507   $ 31,889           $ 27,686
Cost of revenue
  908           894   3,359           3,709
 
                                               
Gross profit
  7,576           6,613   28,530           23,977
Operating expenses
  3,029           2,923   11,932           11,202
 
                                               
Segment income from operations
  $ 4,547           $ 3,690   $ 16,598           $ 12,775
 
                                               
Reconciliation of segment income from operations to consolidated income from operations:
                                               
Total segment income from operations
  $ 47,240           $ 40,965   $ 147,738           $ 139,191
Corporate expenses
  (7,104 )           (7,672 )   (26,663 )           (27,988 )
Stock-based compensation
  (2,106 )           (1,913 )   (7,944 )           (8,869 )
Amortization of intangible assets
  (5,333 )           (4,999 )   (20,611 )           (19,803 )
 
                                               
Consolidated income from continuing   $ 32,697           $ 26,381   $92,520   $ 82,531
operations
                                               
                                     
Reconciliation of segment revenue to consolidated revenue:
                                               
Affiliate Marketing
  $ 36,188           $ 31,544   $ 124,126           $ 111,903
Media
  41,726           40,149   137,487           135,086
Owned & Operated Websites
  42,749           31,771   138,545           149,599
Technology
  8,484           7,507   31,889           27,686
Inter-segment eliminations
  (400 )           (577 )   (1,249 )           (1,551 )
 
                                               
Consolidated revenue
  $ 128,747           $ 110,394   $ 430,798           $ 422,723
 
                                               

Note 1 – On February 1, 2010, the Company announced the divestiture of the Web Clients business, which had been included in the Media segment. The Company has presented this divested business as discontinued operations and has recast its historical statements of operations and segment operating results to reflect this change. The information in this table excludes the divested business for all periods presented. A PDF file containing historical consolidated statements of operations and segment operating results information is available for download on the Investor Relations page at www.valueclick.com.

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