September 11, 1998
MSGI Reports Record 4Q Results
Marketing Services Group Inc., New York, announced this week record annual earnings before taxes, depreciation and amortization of $885,429 for the fourth quarter and $906,299 for the fiscal year ended June 30, as well as substantial revenue gains. Revenue increased 129 percent in the fourth quarter to $18.2 million and was up 119 percent to $51.1 million for the year. Net income was down 2.5 percent to $350,374 for the quarter while the company incurred a net loss for the year of $780,478, an improvement of $4.5 million over 1997. Earnings per share declined 67 percent from 3 cents to 1 cent for the quarter, but improved 87 percent for the year from a loss of $2.85 in 1997 to a loss of 37 cents in 1998. MSGI chairman/CEO Jeremy Barbera attributed the gains to the repositioning of the firm as an integrated marketing services company offering direct and database marketing, telemarketing, e-commerce, media buying and fulfillment.