Omnicom says PR revenue is up

NEW YORK: Omnicom Group today reported that PR generated $259.8 million in the first quarter of 2006, representing an increase of nearly 1.5% versus the first quarter of 2005.

NEW YORK: Omnicom Group today reported that PR generated $259.8 million in the first quarter of 2006, representing an increase of nearly 1.5% versus the first quarter of 2005.

PR represented 10.1% of Omnicom's overall revenue for the quarter.

In an earnings call, Randall Weisenburger, EVP and CFO of Omnicom, said organic growth for PR during the quarter was 4.3%.

"I think that's in line or better than our competition's PR units and it's just marginally short of what our competition's average organic growth rates were," Weisenburger said. "I think the PR units are doing fine."

Revenue for the first quarter of 2006 increased $159.9 million to $2.56 billion an increase of 6.7% compared to Q1 of 2005.

Omnicom also reported a 10% increase in net income to $165.7 million compared to $150.5 million in Q1 of 2005.

"We're very pleased with the company's performance for the first quarter," said John Wren, president of Omnicom, during the call. "Revenues for the first time in several years were actually positive across the board."

Wren said this reflects the growth of existing clients and the impact of new business wins from last year.

2006 marks the 20th anniversary of Omnicom.

BY Michael Bush

NEW YORK: Omnicom Group today reported that PR generated $259.8 million in the first quarter of 2006, representing an increase of nearly 1.5% versus the first quarter of 2005. PR represented 10.1% of Omnicom's overall revenue for the quarter.

In an earnings call, Randall Weisenburger, EVP and CFO of Omnicom, said organic growth for PR during the quarter was 4.3%.

"I think that's in line or better than our competition's PR units and it's just marginally short of what our competition's average organic growth rates were," Weisenburger said. "I think the PR units are doing fine."

Revenue for the first quarter of 2006 increased $159.9 million to $2.56 billion an increase of 6.7% compared to Q1 of 2005.

Omnicom also reported a 10% increase in net income to $165.7 million compared to $150.5 million in Q1 of 2005.

"We're very pleased with the company's performance for the first quarter," said John Wren, president of Omnicom, during the call. "Revenues for the first time in several years were actually positive across the board."

Wren said this reflects the growth of existing clients and the impact of new business wins from last year.

2006 marks the 20th anniversary of Omnicom.

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