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Doubleclick edges past 3Q forecasts

Doubleclick (Nasdaq: DCLK) squeaked past analyst estimates in the third quarter.

After market close Thursday, the online advertising company reported a third quarter net loss of $5.4 million, or 13 cents per share. First Call's survey of 13 analysts predicted a loss of 14 cents per share for the quarter ended Sept. 30.

Third quarter revenue increased to $44.9 million, a 116 percent gain from $20.8 million in the year-ago period, when Doubleclick lost $4.7 million, or 14 cents per share. Gross margin rose over the same period to 51 percent from 32.8 percent.

System revenues -- which include sales from the Doubleclick Network, ads delivered using the company's DART technology, and amounts billed for Compaq under an ad services contract -- totaled $60.4 million, a 190 percent improvement from a year earlier.

The Doubleclick Network saw system revenue of $48.1 million. Doubleclick International Networks generated $12.1 million in revenue.

DART ad deliveries rose to a daily average of 567 million impressions in September, up from 363 million in June. The number of DART websites increased to 1,236 in the third quarter, from 893 in the second.

Also reporting results was NetGravity (Nasdaq: NETG), soon to be acquired by Doubleclick. NetGravity lost $1.5 million, or 9 cents per share, on revenue of $6.8 million. Revenue rose 20 percent sequentially and 121 percent year-over-year.

Including revenue from NetGravity and another pending acquisition, Abacus Direct, combined system revenues for all three companies in the third quarter were $90.2 million, or a 43 percent increase from the second quarter.

Doubleclick expects to close on NetGravity this month and Abacus in November.

Shares of Doubleclick rose 4 5/8 to 127 1/2 in Thursday's regular trading prior to the quarterly report.>