For the first six months, revenue increased 9%, to $927.1 million from $850.7 million. Bcom3 showed net income of $4.5 million for the quarter and $7 million for the first half, but showed losses per share of $2.89 and $6.01 for those same periods, respectively.
The per-share loss resulted from the mandatory redemption of company shares, which cost $36.3 million in the second quarter and $70 million in the first half. The company's bylaws require employee shareholders to sell their shares back when they leave the company.
Bcom3's plans for an initial public offering of stock have been delayed due to the weak economy; the agency group is now expected to go public next year. -- Mercedes Cardona
Copyright August 2001, Crain Communications Inc.