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Posts Tagged ‘Harris Diamond’

Updated: IPG Reports Revenue Gain, Net Loss of $45.9 Million

Interpublic Group, home to Weber Shandwick, GolinHarris, and other PR and advertising agencies, reported first quarter revenue of $1.51 billion, an increase from $1.47 billion in 2011. Organic growth was 2.8 percent.

The company’s operating loss was $39.4 million, a decrease year-over-year from $45.3 million, showing improvement. Net loss was $45.9 million versus $48.1 million in 2011. The Wall Street Journal reports that  ”in February Standard & Poor’s raised its rating outlook on Interpublic to positive from stable, citing the company’s progress toward improving profitability and credit metrics.”

Harris Diamond, the CEO of IPG’s Constituency Management Group (CMG), housing the company’s PR firms, says its figures were strong with organic revenue at 8.6 percent and overall growth at 10 percent.

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IPG’s Harris Diamond: ‘Content Creation Is Now a Large Part of What We Do’

Interpublic Group reported its Q4 2011 and full-year earnings numbers this morning, with the company’s Constituency Management Group, the division that houses PR firms including Weber Shandwick and GolinHarris, showing organic growth of 9.8 percent for the year. CMG revenue for 2011 totaled $1.12 billion; revenue for the quarter totaled $321.1 million. In 2010, revenue for the year total $1.04 billion.

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IPG’s Diamond ‘Cautiously Optimistic’ Given the Situation in Washington

Interpublic Group reported second quarter revenue of$1.74 billion, up from $1.61 billion for the same period in 2010. Organic growth was 4.7 percent; 4.2 percent in the U.S. and 5.5 percent around the world.

Operating income for the quarter was $174 million, which is actually down from $177.2 in 2010. For the half, operating income was $128.7 million versus $117.8 million in 2010.

For the first half, revenue totaled $3.22 billion, up from $2.95 billion in 2010 with organic revenue growth of 6.8 percent for the half. Organic revenue growth was 6.3 percent last year. For more detail about IPG’s earnings, click here.

IPG’s Constituency Management Group (CMG), which houses the PR firms, also continued on the positive path. IPG PR firms include Weber Shandwick, GolinHarris, and Carmichael Lynch. Organic growth for the company’s PR unit was 9.5 percent for the first six months of 2011 and 9.6 percent for the second quarter. Harris Diamond, CEO of the CMG, told us that even with these good results, the situation in Washington has him a little wary.

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IPG Reports 9.3 Percent Organic Growth in Q1, Strong PR Showing

Interpublic Group keeps the positive earnings trend going with 9.3 percent organic growth reported in Q1 2011. Revenue totaled $1.47 billion for the quarter, a 10.3 percent increase year-over-year.

According to Harris Diamond, CEO of IPG’s Constituency Management Group, it was a “terrific quarter” for IPG’s PR firms (a sentiment expressed during this morning’s earnings call). The company’s PR agencies include Weber Shandwick, GolinHarris, and Carmichael Lynch. There was year-over-year organic growth of eight percent, with, according to Diamond, “strength in the U.S. and Asia.” He also said things were “turning positive” in Europe.

Overall, IPG reported 8.8 percent organic growth in the U.S. and 10.2 percent internationally.

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IPG’s Harris Diamond: Opportunities for the PR Industry Abound

Interpublic Group’s earnings continue the positive streak, with the company announcing Q4 2010 organic revenue growth of 11.2 percent and full year organic revenue growth of seven percent.

Fourth quarter revenue totaled $2.01 billion versus $1.80 billion in Q4 2009. Increases were tallied around the world, with the U.S. showing organic growth of 13.1 percent. Operating income was $330.7 million for the quarter versus $268.0 the previous year, with operating margin at 16.4 percent for the quarter compared to 14.9 percent the previous year.

For the year, revenue was $6.53 billion versus $6.03 billion in 2009. Operating income was $548.7 million compared to $341.3 million in 2009. For the full year 2010, the operating margin was 8.4 percent versus 5.7 percent in 2009.

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MWW Buys Itself Back from IPG

MWW Group has completed a buy-out from Interpublic Group. The buy-out, led by MWW founder and CEO Michael Kempner and other management members, is taking place a decade after MWW firm was first sold to IPG. The purchase also includes MWW’s financial and IR firm, Financial Relations Board.

Kempner told the New York Times that he “will be the majority shareholder in the newly independent MWW.”

“Minority stakes are owned by 10 to 15 senior managers of the agency” and others he would not identify, the story continues.

“We wish Michael and MWW the best,” IPG Constituent Management Group (CMG) CEO Harris Diamond told us. When asked about any new acquisitions, Diamond said, “We’re always doing acquisitions” but they’re not looking in the U.S., where the company’s presence is already strong. Rather, they’re focused “throughout the world and in different practice areas.”

Updated with comments from MWW’s Michael Kempner after the jump.

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IPG Reports 9.4 Percent Organic Growth

Interpublic Group reported earnings growth today, with third quarter revenue totaling $1.56 billion compared to $1.43 billion for Q3 2009. Organic revenue increased 9.4 percent versus the previous year, with organic growth increasing 10 percent in the U.S. And operating income jumped from $58.3 million in Q3 2009 to $100.2 million for the quarter in 2010.

Revenue for the first nine months totaled $4.52 billion compared to $4.23 billion in 2009. There was a 5.2 percent organic revenue increase year-over-year, and operating income for the first nine months of the year was $218 million compared to $73.3 million in 2009.

“Though macro uncertainty remains, both domestically and internationally, we are confident that we can deliver on our operating margin target of greater than 8% in 2010,” said IPG chairman and CEO Michael Roth in a statement.

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IPG Q2: PR Revenue Up 6.7%


Interpublic Group of Cos.’ (IPG) posted solid Q2 earnings today, beating analyst expectations. The holding company reported profit of $82.5 million, up from $27.8 million from the same period last year.

Revenue increased almost 10% to $1.62 billion. In Q1 2010, IPG reported slightly increased revenue, but also a loss of $64.6 million.

The Constituency Management Group (CMG), which houses Golin Harris, MWW Group and Weber Shandwick reported revenue of $ 242.0 million, up 6.7% from the $226.2 million reported for the same period in 2009, and up approximately 9% from the $221.8 million reported in Q1 2010.

CMG revenues for the first half of the year were $463.8 million, up 6.2% compared to $436.6 million for the first half of 2009.

“At CMG, we are fortunate to have exceptional agencies such as Weber Shandwick and Golin Harris in the PR space that consistently deliver great thinking and programs to our clients. Our results demonstrate that we are winning share in this space. We are also seeing a great deal of digital activity in PR and all of the marketing services agencies within CMG are building best-in-class social media and word-of-mouth practices,” said IPG CEO Michael Roth on a conference call.

“What we’re seeing is a real return to growth,” said Harris Diamond, Weber Shandwick and CMG CEO in an interview with PRNewser today. “These numbers far exceeded what I would have projected in December,” he said.

Diamond also added that growth still came primarily from existing clients, although new business started to pick up in the latter part of May into June. He also added that social media is “driving a large part of incremental spend” by clients.

We’ve posted the company’s investor presentation after the jump.

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Weber Shandwick CEO Harris Diamond’s USC Commencement Speech: ‘The Flack, of all People, Is Lecturing You About Truth’


Weber Shandwick CEO Harris Diamond was recently the the first public relations professional ever to speak at an Annenberg School of Journalism commencement ceremony.

The University of Southern California school hosted Diamond this past weekend, where he urged students to seek the truth in their work.

“The new paradigm holds that everything is opinion, everything is relative, everything is spin. Information is in the eye of the communicator. Communication is about controversy, not information,” he said.

“This is what I mean by the assault on information. The facts — the truths — that used to establish limits for PR and aspirations for journalism are under attack.”

“The flack, of all people, is lecturing you about truth,” he said, followed by laughter. “And you haven’t even heard the worst of it. I’m also a lawyer.”

Over breakfast in Manhattan this morning, Diamond told PRNewser that those wanting to catch another commencement speech by him will have to wait.

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IPG Q1: PR Revenues Up 6.5%


The Interpublic Group of Companies Inc. (IPG) reported first quarter results today. The holding company is still losing money — $64.6 million in Q1 — albeit slightly less than they lost last time this year — $67 million. Q1 2010 revenue was $1.34 billion, compared to $1.33 billion in Q1 of 2009.

IPG’s Constituency Management Group (CMG), which houses Golin Harris, MWW Group and Weber Shandwick, had revenues of $221.8 million, a 5.4% increase from Q1 2009.

Specifically, revenue from PR holdings within CMG were up about 6.4%, Weber Shandwick and CMG CEO Harris Diamond told PRNewser in a phone interview today.

“We have clearly seen in the first quarter a pick-up, specifically here in the U.S. Frankly, Europe is still a problem. Asia is stable. In the U.S., it was a very good quarter,” he said.

Diamond said the greatest growth came from existing clients. “It wasn’t like any one client single-handedly drove business. We saw clients expanding their relationships with us.”

The CMG Group saw a 6.5% revenue decline in Q1 2009, compared to a 14% decline in Q3 2009.