Digitas to Expand

Digitas last week announced the imminent opening of a Miami office to help it build business in Latin America.
Despite the steady stream of positive reports from the publicly held independent agency, Digitas endured a first-quarter loss of $7.5 million, compared with a shortfall of $6 million for the same period in 1999.
Digitas chief executive David Kenny attributed ongoing losses mainly to long-term amortization associated with a payout of more than $120 million to founder Michael Bronner, who retains a minority stake and serves as chairman emeritus.
Digitas reported a 63-percent boost in first-quarter revenue to $63 million, compared with $39 million for the same quarter a year ago.