ICR: Agency Business Report 2014

Last year, ICR's revenue increased 16% from 2012 to $43.3 million.

Principals: Tom Ryan, CEO (pictured) and Don Duffy, president
Ownership: Independent
Offices: New York; Norwalk, CT; Boston; Los Angeles; San Francisco; and Beijing
Revenue: $43,322,436
Headcount: Global: 110; US: 104

Last year, ICR’s revenue increased 16% from 2012 to $43.3 million, which CEO Tom Ryan attributes to new clients and the continued expansion of the agency’s corporate communications practice.

Broken down, 40% of the firm’s revenue growth was associated with new business. The remainder was organic. Profit margin exceeded 20%.

"The corporate communications practice has driven significant client engagement from incremental service offerings," adds Ryan. "Profit growth was driven by in-creased year-over-year revenue and successful, cost-efficient programs."

Significant hires
The firm beefed up its corporate communications group with senior hires in areas including transactional communications, crises preparedness and management, and ongoing corporate PR. Overall, US staff increased 14.3%, which enabled services such as IR advisory, corporate PR, media relations, and crisis management to grow four times as fast as the base business, according to Ryan.

SVPs Sheila Ennis, William Maina, Rodny Nacier, Jessica Liddell, Steve Pasko, Michael Callahan, Jennifer Long, and Dan Foley joined the firm in 2013. Departures included MD Sherry Bertner and senior MD Deidre Campbell. Staff turnover was 7%.

ICR services clients in three primary sectors: consumer, real estate, and technology. All three areas saw growth in the past year and 90% of clients are on retainer.

In December, AMC Entertainment brought on the firm to assist with its IPO. Other business wins included Noodles, Tractor Supply, and Sprouts.

"We’ve dominated IPO communications in the past year, aiding Re/Max Holdings, Cvent, and The Container Store," he adds.

In addition, ICR supported American Eagle Outfitters on internal and external communications after the retailer’s CEO Robert Hanson unexpectedly stepped down earlier this year. The firm lost accounts with Caribou Coffee, TransAct Technologies, and Watts Water Technologies.

Although the firm has a presence in Beijing and handles Chinese clients in the US, ICR is focused on domestic operations.

"We consider ourselves specialists in the US," says Ryan, "right now, we have no plans to set up offices in other locations."

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