BOSTON -- Havas on Tuesday reported first-quarter 2002 revenue of approximately $460 million, based on the current rate of exchange. That number represents a falloff of slightly more than 8% compared with the company's revenue for the same quarter a year ago. Organic growth was down 5.5%, the company said.
The Paris-based company, in line with French financial reporting rules, will disclose its net income in September.
The numbers for Havas, parent of the Arnold, Euro RSCG and Media Planning networks, were in line with expectations and similar to those of its primary competitors. Interpublic Group and WPP Group last week reported first-quarter revenue drops of 15 percent and 2 percent, respectively. Omnicom Group's Q1 revenue rose 8 percent to $1.73 billion, but analysts said its organic growth was lagging.