InVentiv Health Communications, which includes Chandler Chicco Companies and Chamberlain Healthcare Public Relations, announced that total revenues declined 21% to $75.2 million for the second quarter of 2009, compared to $95.7 million for the like quarter in 2008.
Total revenues for InVentiv Health, which includes clinical, commercial, and patient outcomes units, totaled $269 million for Q2 of 2009, compared to $285 million for Q2 of 2008.
“We're seeing both organic growth in client spend and a notable increase in new business volume,” said Blane Walter, CEO of InVentiv Health during a conference call. The company attributed its Q1 losses to delays in client spending. InVentiv's communications units showed a similar 20% decrease in quarter revenues.
FD, FTI Consulting's strategic communications group, reported $44.6 million in revenues for the second quarter of 2009, a year-over-year decline from $62.2 million. FTI reported $360.5 million in revenues for the second quarter, a 6.6% increase from the $337.7 million reported the same period last year.
FD also reported a loss in operating income for Q2 2009 at $3.7 million, a year-over-year decrease from $14.6 million.
According to a statement from Jack Dunn, president and CEO of FTI, in the earnings release, communications results were negatively impacted by "the significantly lower level of capital markets activity, which reduced revenues from M&A- and IPO-related work,“ the economic recession, and the stronger US dollar. But he was positive overall.
“Our results were driven by the strength of our restructuring activities, higher activity in fraud investigations and regulated industries, and increasing momentum in strategic M&A in certain of our practice,” added Dunn in the earnings release.Earlier reports of earnings results from other holding companies also showed second quarter losses.
Omnicom Group reported that Q2 PR revenues decreased 18.5% to $271.7 million, compared to $322 million in Q2 2008. Publicis Group announced that revenues dropped by 2.7% to $1.6 billion for the second quarter of 2009, compared to $1.7 billion for the like period a year ago. And Interpublic Group reported that Q2 revenues for the group that houses the company's PR firms declined 24% to $437.0 million for the Q2 of 2009, compared to $541.0 million in Q2 of 2008.