InVentiv Health reports drop in Q2 revenues

SOMERSET, NJ: InVentiv Health Communications, which includes Chandler Chicco Agency and Chamberlain Healthcare Public Relations, reported total revenues of $75.2 million for the second quarter of 2009 ending June 30, compared to $95.7 million for the second quarter of 2008, a 21% decline. Total revenues for InVentiv Health dropped 6%.

SOMERSET, NJ: InVentiv Health Communications, which includes Chandler Chicco Agency and Chamberlain Healthcare Public Relations, said 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 dropped 6%.

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.

Terry Herring, president and COO of InVentiv Health, said in the earnings call that the communications division started to see the spend on marketing programs return to its historical levels at the end of the first quarter.

The company's Q1 2009 earnings showed a similar decrease, with the communications unit reporting a 20% drop in total revenues for the first three months of the year. The company attributed losses in the first quarter to delays in client spending.

“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 the same call. He also noted that the company generated 58 integrated wins for the first half of 2009, a 35% increase in business volume compared to first six months of 2008.

Total revenues for the company decreased by 4% to $526.7 million for the first half of 2009 ending June 30, compared to $547.4 million for the same period in 2008.

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