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True North Communications Inc. posted a 38% gain in first-quarter net income, exceeding Wall Street estimates, helped by strength in the company’s international markets.
The advertising concern, which agreed earlier this year to be acquired by Interpublic Group of Cos., on Tuesday said net income rose to $9.7 million, or 19 cents a diluted share, from $7 million, or 14 cents a share, a year earlier.
The latest results included a pretax merger-related charge of $1.6
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