OMNICOM REPORTS REVENUE UP 8.3%

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NEW YORK (AdAge.com) -- Omnicom Group reported its third-quarter revenue increased 8.3% to $1.57 billion, from $1.45 billion in the same quarter last year, and net income rose 7.8% to $92.4 million from $85.7 million.

Revenue for the nine months ended Sept. 30 rose 13.1% to $4.92 billion, from $4.35 billion in 2000, and net income rose 15.8% to $339 million from $292.8 million in 2000.

Organic revenue growth for the quarter was 4.5% and 10.1% for the first nine months.

Officials estimated an $80 million revenue loss during the quarter related to the effects of the Sept. 11 attacks.

Chief Financial Officer Randall Weisenburger said one-fourth of the loss came from advertising, one-fourth to one-third came from public relations and the remainder from CRM and other activities.

The public relations business was "severely impacted" by the attacks due to the nature of its PR units, which handle a large portion of public affairs, and their location -- New York and Washington, D.C., he said.

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