Good morning,Yesterday Young & Rubicam announced strong financial results for the three and twelve month periods ended December 31, 1999. In the fourth quarter of 1999, Y&R reported revenues of $490.5 million, an increase of 14.9% over the corresponding period in 1998. Organic revenues, excluding the effects of acquisitions and foreign currency fluctuations, increased by 10.3% over the year ago quarter. The Company reported fourth quarter net income of $34.4 million, excluding approximately $9 million of after-tax impact of additional consideration from Luminant, or $0.41 per diluted share, a 20.6% increase per diluted share over the year-ago period. Including this additional consideration the Company reported fourth quarter net income $42.9 million, or $0.51 per diluted share. For the full year 1999, Y&R reported revenues of $1.72 billion, an increase of 12.8% over 1998. Organic revenues increased 10.4% over 1998. Y&R posted an EBIT margin for the fourth quarter of 13.3%, a 120 basis point improvement over the fourth quarter in 1998. The Company also reported an EBITDA margin of 17.3%, a 110 basis point improvement over the same period in 1998.Click on the news link at the top of this page to read the full press release.Keep Foolish and Prosper, Spirit PS: Get all the tax help you need in one handy place. http://www.fool.com/taxes/taxes.htm
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