Fastclick, issuing its first earnings report since its IPO, boasted record revenue of $19.6 million for the first quarter of 2005, an increase of 80 percent from $10.9 million for the first quarter of 2004. But profits for the same period fell. The Company reported first quarter net income of $0.9 million, or $0.06 per fully diluted share, compared with $1.8 million, or $0.17 per fully diluted share, for the first quarter of 2004. Adjusted net income, which excludes stock-based compensation, was $1.5 million for the first quarter of 2005.