October 26, 1998
Snyder Reports 3Q Revenue at $190M
Snyder Communications Inc., Bethesda, MD, saw double-digit revenue increases and triple-digit income increases for the third quarter ended Sept. 30. Revenue rose 37 percent to a record $190 million for the quarter vs. $139 million for the third quarter of 1997. Net income rose 125 percent to $17.8 million compared to $7.9 million for the same quarter last year, excluding nonrecurrent costs. The quarter included the acquisitions of Clinical Communications Group, Greenwich, CT, and MKM Marketing, a German company. CEO Daniel M. Snyder noted that the acquisitions have helped the company broaden its services to offer one-stop integrated pharmaceutical marketing. "Our ability to leverage advanced interactive solutions, strategic analyses, and ROI modeling has helped us become the first or second largest pharmaceutical marketing company in four of the world's top five markets," he said.