The downturn in the economy has led online marketing service company ValueClick to lower its revenue guidance for the 2008 fiscal year. With decreased revenues from its comparison shopping and display advertising divisions, Westlake Village-based ValueClick updated its guidance range to $655 million to $675 million for the year. The previous guidance had been in the $730 million to $745 million range. Due to economic uncertainty the company no longer expects the high amount of ad spending typically seen in the second half of the year, said CEO Tom Vadnais. For the second quarter ending June 30, the company anticipates revenues between $163 million and $164 million, less than the projected range of $166 million to $170 million. Full second quarter results will be released July 31. Shares in ValueClick closed down at $11.01.
ValueClick Lowers Fiscal ’08 Guidance Range