InVentiv Health reports leap in comms revenues

SOMERSET, NJ: InVentiv Health's communications division saw a 44% increase in Q1 revenues, compared to the like quarter in 2007.

SOMERSET, NJ: InVentiv Health's communications division saw a 44% increase in Q1 revenues, compared to the like quarter in 2007.

Recent acquisitions and renewed momentum that began in Q4 of 2007 contributed to the division's success, the New Jersey company's president, Blane Walter, said during an earnings conference call. InVentiv acquired Chamberlain Healthcare PR and the Chandler Chicco Agency in 2007.

For its first quarter, which ended March 31, InVentiv Communications reported $88.3 million in revenue, compared with $61.4 million the year before; adjusted operating income was $12.8 million, up 52% increase from $8.5 million for the same period last year.

New wins and expansions within existing accounts also aided the growth, the company said in a statement.

Company-wide, it reported income of about $8 million on revenues of $224.6 million for its first quarter, compared to income of $10.5 million on revenues of $176.4 million during the same period last year.

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