×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

MODEM, DIGITAS REPORT SECOND-QUARTER EARNINGS

Published on .

(July 31, 2001) -- I-shops Modem Media, Norwalk, Conn., and Boston-based Digitas also reported second-quarter financials today.

Modem slightly narrowed its net loss for the quarter to $5.5 million, or 21 cents per share, as compared with a net loss of $5.8 million, or 24 cents per share, for the second-quarter 2000. Modem's revenues for the quarter totaled $26.1 million, a 21% decrease from last year's second-quarter revenues of $32.8 million and a 22% drop from $33.4 million in the first quarter of 2001. Interpublic Group of Cos. has a minority stake in the company.

Digitas experienced a drop in revenue and increased net loss for its second quarter. The company reported a net loss of $33.5 million, or 57 cents per share, as compared with a net loss of $5.3 million, or 9 cents per share, in the second quarter of 2000. Second-quarter revenue was down, though less substantially than some of its competitors.The company said its revenue was $60.5 million for the quarter, as compared with $70.1 million for the second quarter of 2000. The company said it expects third-quarter revenues to be flat as compared with the second quarter. -- Adrienne Mand

Copyright July 2001, Crain Communications Inc.

In this article:
Most Popular