Interactive agency Modem Media.Poppe Tyson Inc. reported
second-quarter net income of $581,000, compared to a loss of $768,000 in the
same period a year ago.
Revenues for the second quarter rose to a record $16.0 million, a 53 percent
increase over the second quarter of 1998.
Basic earnings per share increased to $0.05 from a loss of $0.11 in the
second quarter of 1998.
“Our better than expected performance only begins to reflect our worldwide
potential,” said G.M. O’Connell, chairman and CEO of Modem Media. “Demand for
our e-business services is robust and clients continue to increase spending
on a global basis.”
He said average annualized revenue for the top 10 accounts in the second
quarter
grew 33 percent to $5.0 million, up from $3.8 million in the first quarter of 1999.
Modem Media has created Internet solutions for customers such as 3M,
Citibank, Delta Air Lines, E*Trade, IBM, JC Penney, John Hancock, Sony
Computer Entertainment of America and Unilever.