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What: Shares of ValueClick (NASDAQ: VCLK) jumped today by as much as 19% after the company reported better-than-expected earnings.
So what: Revenue in the fourth quarter was $199.6 million, narrowly topping the consensus estimate of $199.2 million. The bottom-line beat was more meaningful, with the company generating non-GAAP earnings per share of $0.56 compared to the $0.52 per share profit that investors were expecting.
Now what: CEO John Giuliani said that the company's initiatives to engage on a deeper level with advertisers is starting to pay off, and expects 2013 to be a "watershed year" for ValueClick. The company repurchased roughly 113,000 shares during the quarter and has $89.3 million left on its authorization. First-quarter guidance calls for sales in the range of $165 million to $168 million. Non-GAAP earnings per share are forecast to be $0.39 to $0.41.
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