Revenue, Income Rise at Digitas

BOSTON Independent marketing agency Digitas said its first-quarter net income more than doubled to $7.4 million, compared with $2.6 million for the same period in 2003. Digitas’ Q1 revenue shot up nearly 15 percent to nearly $90 million, compared with $79 million a year ago.

Income per diluted share was 10 cents for the quarter, compared with 4 cents in the year-ago period.

The Boston-based company said for the full year it anticipates fee revenue of $230-245 million and earnings per share of 34-42 cents.

“Not only are we growing the top line, we also have increased our operating focus to drive higher margins and quality,” said Digitas chief financial officer Jeff Cote.

The company added relationship marketing chores on Pfizer’s Viagra brand during the quarter. Other clients for interactive, direct marketing and advertising include American Express, America Online, AT&T, Delta Air Lines and General Motors.

Digitas stock (DTAS) closed on the Nasdaq today at $9.91, up 55 cents or 6 percent. Its 52-week high is $13.24; its low, $3.75.

@DaveGian David Gianatasio is a longtime contributor to Adweek, where he has been a writer and editor for two decades. Previously serving as Adweek's New England bureau chief and web editor, he remains based in Boston.
Publish date: April 30, 2004 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT