InVentiv Communications posts 8% decline in Q3 revenues
November 05, 2009
by Jaimy Lee
SOMERSET, NJ: InVentiv Communications said that total revenues fell 8% to $77.6 million in the third quarter of 2009, compared to $84.1 million in 2008. Net revenues for the communications division increased by 2%, marking the first year-over-year increase in net revenues for the unit since the fourth quarter of 2008.
SOMERSET, NJ: InVentiv Communications said that total revenues fell 8% to $77.6 million in the third quarter of 2009, compared to $84.1 million in 2008. Net revenues for the communications division increased by 2%, marking the first year-over-year increase in net revenues for the unit since the fourth quarter of 2008.
InVentiv Communications, which includes Chandler Chicco Companies and Chamberlain Healthcare PR, had reported that total revenues declined by 21% in the second quarter and fell 20% in the first quarter.
The company said in a statement that the improvement in the third quarter was attributed to wins with new and current clients, as well as an increased stabilization of client's advertising and promotional spending.
Total revenues for InVentiv Health dropped 6% to $270.5 million in the third quarter of 2009, compared to $289.2 million in the same quarter in 2008. Net revenues for the holding company declined by 4% to $232.8 million, compared to $243.4 million.
InVentiv Health also announced that Terry Herring, president and COO, was resigning, effective December 31, to take a position with Mission Pharmacal.
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