Big Flower, MSGI Report Record Results
For the fourth quarter of the year, earnings were up 33.5 percent to $17.98 million or 78 cents a share on revenue growth of 19.5 percent to $502.8 million. Big Flower's fourth-quarter results were driven by revenue growth of 39.2 percent and earnings growth of 53.2 percent in its direct marketing services group and the firm's digital printing, insert advertising and commercial printing businesses, said president/CEO Edward Reilly.
Integrated marketing services provider MSGI, New York, saw revenue growth of 56 percent to $16.6 million for its second quarter but reported a net loss of $1.52 million, up 72 percent from the same period a year ago. EPS improved from a minus 33 cents to a minus 14 cents. MSGI chairman/CEO Jeremy Barbera attributed the losses to its start-up fulfillment business but said direct and Internet marketing operations were profitable. The company has received offers to sell a majority stake in the Metro Fulfillment subsidiary and expects to complete a transaction this quarter.