InVentiv Communications, which includes Chamberlain Healthcare Public Relations and Chandler Chicco Agency, reported $70.9 million in Q1 revenues, compared to the $88.3 million it reported for Q1 2008.
Losses were attributed to delays in client spending although the company noted in its earning statement that revenues picked up later in the quarter. Blane Walter, CEO of InVentiv Health, said in a morning conference call that the company expected more pharmaceutical consolidations, which can cause a temporary slowdown in client spend.
The communications unit fared the worst of InVentiv Health's business divisions. Both InVentiv Commercial and InVentiv Patient Outcomes reported increases in total revenues, while InVentiv Clinical posted a 2% decrease.
Somerset, NJ-based InVentiv Health said that total revenues for the company decreased to $257.7 million for the first quarter of 2009, which ended March 31, compared to $262.3 million from the like period a year ago. Its total net income also fell, totaling about $7.9 million, compared to $8.6 million in the year-ago period.
Walter also said in a statement that earnings were better than anticipated and that client spending is beginning to stabilize.
Have you registered with us yet?
Register now to enjoy more articles and free email bulletinsRegister