2005 Agency Business Report: Text 100

Part of Next Fifteen Communications Group

Part of Next Fifteen Communications Group

Aedhmar Hynes, CEO

2004 revenue: $23,185,392

2003 revenue: $20,248,006

Up 15%

Number of offices: Five in the US: San Francisco, New York, Boston, Seattle, Rochester, NY; 27 globally.

Staff numbers: Worldwide, Text 100 increased headcount by 12% to 435. US increased to 147.

Staff turnover: 13% in the US, 20% globally.

Senior hires: Stephen Astle, SVP in San Francisco; Kathleen Fitzgerald, EVP and global managing director of the corporate communications practice, formerly SVP, public relations and advertising for Lucent Technologies.

Senior departures: Kelli Tejada, VP, San Francisco

New offices: Hong Kong

What area is growing? As in 2004, Text 100 believes that China will be a key market in 2005.

Practice areas: Media and analyst relations, corporate communications, international consulting, research and measurement.

What areas were strong? The media and analyst relations practice demonstrated particularly strong growth along with the research and measurement practice.

Distribution of accounts across practice areas: The majority of retainer-based programs incorporate media and analyst relations, with 25% of clients using Text 100's international consulting services. Specialized offerings such as crisis communications and reputation management, and training and workshop offerings, are delivered to approximately 50% of clients on an ad hoc basis.

Key account wins: Include Broadvision; Earthlink; McDATA; NEC Solutions America; Radware

Key account losses: Gift Certificates, Prepared Response, and Ixos, which was acquired by OpenText.

Clients expanded into new markets: Include Getronics into the US from Europe.

Proportion of clients on a retainer: More than 97% of clients are on a standard retainer.

Did revenue meet expectations? Text 100 says it is on a path of strong growth with revenues that continue to exceed expectations.

Outlook: Restructuring the business was a major component of 2004, following an intensive planning period that engaged almost the whole company in working out "where we want to be," says CEO Aedhmar Hynes. The firm moved from a leadership model focused solely on geographies to one layered in leadership of specific strategic initiatives, such as sales, marketing, and overall execution. "It was about creating a stronger agency, not just a bigger one," Hynes says.

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