Bcom3 Reports Big Net Income Boost for 2Q

CHICAGO — Bcom3 Group reported net income for the second quarter of this year of nearly $34 million, an increase of almost 76 percent from the same period a year ago, according to a filing with the Securities and Exchange Commission.
Despite the increase in net income, worldwide revenue for the period increased only 1.4 percent to $487 million from $480 million for the same period in 2001. Domestic revenues increased 2.6 percent to $259 million, while international revenues increased 0.1 percent to $228 million.

Eileen Kamerick, Bcom3’s chief financial officer, attributed the huge income increase against the relatively flat revenue boost to better cash management and expense control.

Numbers for the quarter ended June 30, 2002, and those in the comparable quarter a year earlier, employ new SEC rules regarding goodwill amortization.

For the six months ended June 30, 2002, consolidated net income increased to $54 million, up 47 percent from 2001’s $37 million after adjustments. Worldwide revenue increased 0.6 percent to $932 million from $927 million for the first six months of 2001.

Bcom3’s $3 billion acquisition by the Publicis Groupe is expected to be completed in September. Publicis earlier this week reported consolidated first half 2002 revenue of $1.1 billion, up 2.4 percent. The Paris-based holding company’s earnings report is due Sept. 10.