Dentsu Profits Weighed Down By Costs Related to Aegis Acquisition http://bit.ly/148sOG4
Dentsu Inc.’s bid to become a truly global agency company is showing results, with revenue in yen from markets outside of Japan quadrupling, according to quarterly data that include results of the former Aegis Group for the first time.
Revenue was up 60.7% in yen for the first fiscal quarter ended June 30, the Tokyo-based company said. The Japanese currency significantly weakened during the period, and revenue converted to U.S. dollars rose 30.4% to $1.24 billion.
The company reported a net loss of $37.5 million for the quarter. Dentsu Inc.’s bottom line was affected by costs related to amortization of goodwill related to the Aegis acquisition. For the same period last year, Dentsu reported net income of $78.5 million. In yen, the company reported a net loss of 3.7 billion yen vs. year-ago net income of 5.9 billion yen.
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