SOMERSET, NJ: InVentiv Health said total revenues for its communications division, which includes Chandler Chicco Companies and Chamberlain Healthcare PR, dropped 9% to $310 million in 2009, compared to $341.9 million in 2008.
Fourth quarter revenues for InVentiv Communications increased 17% year-over-year to $86.1 million, indicating the group's first revenue increase since Q3 of 2008. The communications division had reported double-digit drops in revenues for three consecutive quarters until Q3 of 2009, which saw an 8% decline in total revenues.
The earnings statement attributed InVentiv Communications' growth to stabilization of clients' marketing spend, new business, and increased scopes of work with current clients.
InVentiv Health said that total revenues decreased 4% to $1.07 billion in 2009, compared to the $1.12 billion it had reported in 2008. Net income was $47.7 million in 2009, compared to a loss of $126.9 million in 2008.
Companywide Q4 results show that total revenues declined 3% to $274.8 million in 2009, compared to $283.3 million for the same period in 2008. Net income for the quarter was $16.6 million, compared to a loss of $162.4 million in the year-ago period.
Net revenues fell 3% to $927.9 million for the full year of 2009 for InVentiv Health. Net revenues also dropped 4% to $238.6 million for the fourth quarter of 2009.
In addition, Chamberlain reported February 23 that Richard Chamberlain, founder and president, planned to step down March 1 and that it had promoted Jonathan Wilson to president and Deborah Cohen to COO.
The agency noted that it had recently won accounts with Boehringer Ingelheim's Pradaxa and Ondero, Pfizer's oncology portfolio, Novavax, Graceway Pharmaceuticals, and Pamlab.