Double-digit gains for Y&R

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Young & Rubicam, New York, reported double-digit gains in net income and revenue for the third quarter. Excluding a net gain related to the sale of certain assets of Brand Dialogue in exchange for an ownership interest in Luminant Worldwide Corp., Y&R reported net income of $31.4 million, up 29.2% from a year ago. Revenue increased 14.1% to $428.5 million. North America led all other regions in revenue growth, with a 13% increase for the quarter; Europe was up 11.3% and Latin America 1.2%, while Asia-Pacific was down 4.5%. Nine-month results: net income of $124.2 million vs. a loss of $113.3 million a year ago; revenue up 12% to $1.2 billion.

Copyright October 1999, Crain Communications Inc.

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