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CEO John Dooner Calls Past Year 'Challenging'

By Published on .

NEW YORK (AdAge.com) -- Interpublic Group of Cos.' fourth-quarter revenue declined 16% to $1.7 billion for the period ended Dec. 31, compared to the year-ago period, the holding company announced.

Net income for the quarter fell to $111.2 million from $113 million in the fourth-quarter one year ago, though diluted earnings per share were 30 cents for both quarters.

For the year, Interpublic's revenue was $6.7 billion, a 6.3% decline compared to 2000's full-year revenue. Interpublic's loss for the year was $505.3 million dollars, or $1.37 per fully diluted share, compared to net income of $420 million or $1.14 per share one year ago.

"The past year was a challenging one for Interpublic," said John J. Dooner, the company's chairman-CEO, during a conference call after the market closed Thursday.

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