Boston-based interactive agency Digitas Inc. reported results for the first quarter of 2003, in line with management's previously announced expectations. Fee revenue for the first quarter of 2003 of
$52.3 million, compared with $49.6 million for the first quarter of 2002. Total revenue was $79.2 million for the first quarter of 2003, compared to $69.0 million for the first quarter of 2002. The
company reported net income of $2.6 million, or $0.04 per share, for the first quarter of 2003, as compared to net income of $0.7 million, or $0.01 per share, in the prior-year period. David Kenny,
Chairman and Chief Executive Officer of Digitas, said, "Despite the uncertain economy, we have continued commitments from our clients. While spending levels reflect the caution of the times, many of
our relationships continue to grow in depth and breadth, as clients increasingly see the relevance and value of the work we do, and rely on us as a strategic partner in their businesses." Digitas said
it anticipates fee revenue of $50 million-$52 million for the second quarter of 2003.