Shares of online ad firm ValueClick (VCLK) were down almost 6% pre-market after the company reported preliminary first-quarter results that showed revenue below Wall Street estimates. The company now expects revenue “will be at the mid-point of the previously-issued guidance range of $93 to $97 million.” Analysts were looking for $98 million.
ValueClick said adjusted-EBITDA “will be at, or slightly above, the high-end of the previously-issued guidance range of $24 to $26 million.”
Meanwhile, the company announced that Chief Executive Officer Tom Vadnais is retiring from the post and giving up his board seat, effective immediately.
Current chairman and former CEO James Zarley is returning to the chief executive post, with board member Martin Hart stepping in as Chairman.
In pre-market trading, shares of ValueClick are off 5.5% to $9.50.
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