Press Releases

September 20, 2012


Provides Update on Third Quarter Outlook, Adjusted for Divestiture


WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--


ValueClick, Inc. (NASDAQ: VCLK) today announced the divestiture of


Search123, its self-service paid search business operating in Europe.


"Search123 has been a small business for us and does not fit with our


long-term strategy. Its divestiture allows us to focus on our


significant growth initiatives as we build out an integrated solution to


help digital marketers drive multi-channel brand engagement and customer


acquisition through one strategic partner," said
James R. Zarley, chief


executive officer of ValueClick. "As our updated third quarter outlook


illustrates, we expect another solid quarter of financial performance,


with all segments generating growth in-line with our prior expectations."


Search123 Divestiture


Operating in Europe, Search123 is a self-service offering that generates


search traffic through relationships with third-party content websites.


Search123's revenue is generated on a cost-per-click basis through a


relationship with a major search engine provider. The business was


previously included in the Company's Owned & Operated Websites segment.


The Company is selling Search123 to
Carl White, the former executive in


charge of the Company's European operations. The terms of the


transaction, which are not material to the Company's financial position,


consist of future contingent payments based upon the performance of the


business over the next four years. In accordance with applicable


accounting standards, ValueClick anticipates presenting the Search123


business as a discontinued operation and restating the Company's


historical financial statements and segment operating results to reflect


this change. The transaction is expected to close by the end of


September.


Search123 generated revenue of $31.4 million in fiscal year 2011 with


the first, second, third, and fourth quarters contributing revenue of


$7.7 million, $8.5 million, $8.1 million, and $7.1 million,


respectively. In the first two quarters of 2012, Search123 generated


revenue of $6.4 million and $7.0 million, respectively, representing


approximately four percent of the Company's total consolidated revenue


in each period.


Updated Third Quarter 2012 Outlook


Today, ValueClick provided an update on expected results for the third


quarter ended September 30, 2012. The Company currently expects third


quarter revenue and adjusted-EBITDA from continuing operations


(excluding Search123) to be near the high-end of the respective guidance


ranges provided on August 2, adjusted to exclude Search123. ValueClick's


third quarter and fourth quarter 2012 guidance assumed that Search123


would contribute revenue in the range of $6.0 million to $6.5 million


each quarter with operating income margins of approximately 25 percent.


The Company anticipates releasing third quarter 2012 financial results


on Thursday, November 1.


About ValueClick


ValueClick, Inc. (NASDAQ: VCLK) is one of the world's largest digital


marketing companies. Through a unique combination of data, technology


and services, ValueClick increases brand awareness and drives customer


acquisition at scale for the world's largest advertisers, and maximizes


advertising revenue for tens of thousands of online and mobile


publishers. ValueClick's brands include Commission Junction, ValueClick


Media, Dotomi, Greystripe, Mediaplex, Smarter.com, CouponMountain.com,


Investopedia.com, and PriceRunner. The Company is based in Westlake


Village, California, and has offices in major advertising markets


worldwide. 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, the


risk that legislation and governmental regulation could negatively


impact the Company's performance, the effects of recent acquisitions on


ValueClick's financial results, the potential inability to successfully


operate or integrate Dotomi's business, including the potential


inability to retain customers, key employees or vendors. 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 29,


2012; 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.




ValueClick, Inc.
Gary J. Fuges, CFA
1.818.575.4677


Source: ValueClick, Inc.



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