Arnold Parent Appearing In A ‘Better Light’
BOSTON–Snyder Communications last week was given a small gift from Standard & Poors when it was selected to replace New Century in its MidCap 400 Index.
What this means for Snyder is that instead “of being inside a 60-watt bulb, it’s now in a 75-watt bulb,” said financial analyst Alan Gottesmann of West End Consulting in New York. “It’s light shines a little brighter. It’s a prestige thing.”
Headquartered in Bethesda, Md., Snyder owns New England’s largest ad agency, Arnold Communications in Boston, as well as Blau Marketing, which recently moved its headquarters from Wilton, Conn., to Chicago.
For the third quarter ending Sept. 30, Snyder reported record revenues, operating profits and earnings per share.
Net income grew 125 percent to $17.8 million, compared to $7.9 million for the same quarter in 1997. Revenue for the same period increased 37 percent to $190 million, compared with $139 million for the same quarter in 1997.
Separately, sources said Snyder is close to completing a “small” acquisition in San Francisco, presumably to help beef up Arnold’s West Coast presence.
A Snyder representative said last week it was too early to comment on a San Francisco deal.
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