ValueClick Inc., the digital marketing company based in Westlake Village, reported strong gains in both revenue and profit for the fourth quarter and year-end 2011.
Revenue grew 30 percent to $560.2 million for year-end 2011while net income jumped 11.7 percent to $101.1 million, or $1.24 per diluted share.
Fourth-quarter results were also strong. The company reported a 42 percent increase in revenue to $182.6 million for the three months ended Dec. 31. Profits soared 39 percent to $29.4 million, or 35 cents per diluted share, up from 26 cents in the same period a year ago.
"We completed a successful 2011 with strong fourth-quarter results, including media segment results that were driven by 20 percent organic growth in our display business, double digit growth in the affiliate marketing and technology segments, and very strong performance by our recent acquisitions," CEO Jim Zarley said in a statement. "We will continue to invest in people and in our data, optimization and traffic platforms to expand our presence in the digital marketing industry, and we remain confident in our ability to generate more than $700 million in revenue in 2012."
The company also said it had $45.6 million income from operations in the fourth quarter, a 39 percent gain from a year ago.
ValueClick said it repurchased 2.8 million shares of its common stock for a total cost of $44.2 million during the fourth quarter. During fiscal year 2011, ValueClick repurchased 9.7 million shares of stock for a total cost of $145.0 million. These repurchases have largely offset the shares ValueClick issued to drive its acquisition strategy.
The company said that its board agreed today to increase the share repurchase program authorization by $59 million, bringing the program's current total authorization to $100 million.