Modem Media Posts $1.31 Million 3Q Profit
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Interactive agency Modem Media Poppe Tyson Inc. posted third quarter net income of $1.31 million, or 12 cents per share, compared to a loss of $1.13 million, or 15 cents a share, in the same period a year earlier.
Revenues for the third quarter ending Sept. 30 rose to a record $21.1 million, up from $10.9 million in the third quarter of 1998. Earnings before interest, taxes and amortization of goodwill rose to $3.6 million from a loss of $0.9 million in the third quarter of 1998.
"Our exceptional performance is the result of our customer-focused e-business vision, superior service architecture and organic business model," said G.M. O'Connell, chairman and chief executive officer of Modem Media.
"Our clients continue to accelerate their global commitment to the Internet. This commitment, coupled with significant new business wins this year, drove our better than expected results."
Other recent new business wins include Toyota, The Industry Standard and Starwood Hotels and Resorts.