2005 Agency Business Report: Widmeyer

Scott Widmeyer, CEO

2004 revenue: $8,300,000

2003 revenue: $8,000,000

Number of offices: Two in the US only - Washington, DC and New York

Staff numbers: 49, down from 53 at the end of 2003.

Percentage of turnover: Approximately 10%

Senior hires: Cathy St. Denis, VP and group director for the public affairs practice.

Senior departures: David Frank, SVP, Naomi Paiss, VP

New affiliations: Widmeyer entered into an affiliation with PROI, an international network of independent agencies.

Changes in ownership status: Widmeyer added another partner, Margaret Dunning, who has been with the firm for six years.

Number of practice areas: Seven - public affairs, research and polling, healthcare, education, design and advertising, homeland security, New York

Which are new? Homeland Security practice is the youngest, set up in late 2003.

What areas were strong, and weak? Education, health, research and homeland security practices were strongest; public affairs had a weak year.

Key account wins: Include Princeton University, FannieMae, Redhat Federal Division, Allendale Pharmaceuticals, the Environmental Protection Agency and the Food & Drug Administration.

Key account losses: Atkins Nutritionals and Cryptek

Proportion of clients on a retainer: Very few

Financial performance: Widmeyer set a revenue growth target of 10% and fell short of that goal. It experienced modest top-line growth (5%) and moderate bottom line growth, though that too fell short of expectations.

Outlook: Widmeyer saw continued growth in business around risk communications and public health issues tied to the post-9/11 environment, especially since 2004 was the first full year for its Homeland Security practice. According to CEO Scott Widmeyer, 2005 is looking even better. "Early indications point to a robust year. Our Roadmap Campaign to bring in new clients and expand existing business is in its third year, and for Q1 2005, we are running ahead of our goal and showing a 100% increase compared to Q1 growth in 2004."

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