Roth And IPG Start Playing By The Rules
February 29, 2008
Fresh off the presses – more advertising agencies are posting positive results. Interpublic has righted some accounting issues and posted a fourth-quarter net up 5.6%. From CNN Money:
“The New York advertising and marketing services company reported net income of $178.4 million, or 31 cents a share, up from $69.1 million, or 11 cents a share, a year earlier. Prior-year results included an $80.8 million debt-exchange charge.”
Why? The company kept their operating costs flat and cited increased spending from existing clients and the addition of a few new accounts. Next year, maybe we’ll see Jay-Z, Translation, adding to their bottom line. IPG has also become compliant with Sarbanes-Oxley standards. Just like Sorrell of WPP, Roth also said he did not expect a “pullback” in 2008, though 2009 could be tough. Good. Roth is setting the IPG ship back on course. Let’s see what he can do given another good business year.
March 3, 2008 at 12:26 am
Sexy Spy…
“Good. Roth is setting the IPG ship back on course.” I can’t believe you fucking said that! What is this mea culpa week? Roth is a douchenozzle. And both he and “The Poisoned Dwarf” are full of shit… 2008 will be a fucking disaster for BDA’s. You can read all about it on AdScam.
Cheers/George
March 3, 2008 at 5:45 pm
Given another “good year” could he maybe get the share price over $8.50? Glad I didn’t buy into the employee stock plan when they were pushing it. I’d be eating peanut butter on saltines everyday.