Principals: Steve Schwartz, CEO and cofounder; Bryan Scanlon, president (pictured)
Offices: 4 wholly owned globally; 2 in the US
Revenue: $25,210,803; $22,372,327 in the US
Headcount: Global: 185; US: 160
Schwartz Communications grew in three areas; its European operations, digital services, and cleantech, says Bryan Scanlon, president of the Waltham, MA-based firm.
Overall, 2010 global revenues rose 1.2% to $25.2 million, compared to $24.9 million in 2009. US operations still make up most of its business, as only $2.8 million stems from the London and Stockholm offices.
"There's certainly a lot of demand for Europe and the US, and putting those programs together," says Scanlon.
He also notes that revenue grew in the second, third, and fourth quarters, but not the first. The firm did not report bottom-line growth in 2010 as a result of "investments in digital and other areas."
"We had a good recovery," says Scanlon. "A lot of that was due to diversification."
Major cleantech gains
Cleantech, an oft-discussed sector in tech communications, made up 10% of the firm's overall revenues in 2010, showing a nearly 70% increase over the previous year. On the West Coast, cleantech generated 25% of Schwartz's San Francisco office's revenues.
Scanlon says that the "regulatory environment for cleantech is incredibly favorable right now," which is leading to more work for the firm. It now has 30 cleantech clients.
Other practice groups, including consumer, biotech and pharma, healthcare IT, and data center, also reported double-digit growth.
The client story
Key wins in 2010 were Kimberly-Clark Health Care, Canon, Nordion, Elster Group, Qualys, and MicroStrategy.
According to Scanlon, the firm's work with GE Healthcare, which it won in late 2009, expanded "aggressively." He adds that one-third of Schwartz's 200 clients bought new services from the firm in 2010.
Schwartz lost its work with Pitney Bowes' Business Insight group to Shift Communications following a competitive bid last fall. It also stopped working with QNX, SpringSource, and Netezza, following acquisitions.
No senior staffers at the SVP level left Schwartz in 2010, according to the firm. Senior promotions included Dave Close to GM of the Waltham, MA, office, and Merrill Freund to GM of the West Coast.
Headcount in the US for 2010 was 160. Scanlon said he expects to make hires in digital, healthcare, and people with experience in regulatory communications.