Bcom3, holding company for the Leo Burnett and D’Arcy advertising agency networks, reported a net income of $2.6 million on revenues of $447m for the first quarter of 2001, it emerged yesterday.

Even allowing for the general malaise affecting the ad industry the figures, filed with the Securities and Exchange Commission, do not compare well with those for the same period last year when a $65m loss was made on revenues of $381m.

However, the deficit reflected an exceptional charge of $72m relating to the merger of the two agency networks, without which Bcom3 would have posted a profit in the region of $7m.

News source: AdWeek.com