Plans for IPO Moved to Next Year

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NEW YORK (AdAge.com) -- Bcom3 Group posted a 5.1% increase in revenue in the third quarter, to $456.6 million, from $434.3 million in 2000.

For the first nine months, revenue increased 7.7% to $1.4 billion, from $1.3 billion last year.

Bcom3 showed net income of $4.7 million for the quarter and $11.7 million for the first half, but showed losses per share of $2.93 and $8.94 for those same periods, respectively.

The per-share loss resulted from the annual write off of $70 million in goodwill from the merger of Burnett and DMB&B's parent, MacManus Group.

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.

Chief Financial Officer Eileen Kemerick said the company is waiting for improvement in the IPO market and for its profit margins to reach parity with other holding companies.

She did not specify Bcom3's current margin, but most holding companies have shown margins in the low 10% range this year.

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