THE M/A/R/C GROUP EARNS A RECORD $3.4 MILLION FOR 1991,
E.P.S. UP 15 PERCENT FOR THE YEAR
LAS COLINAS, Texas, Feb. 18 /PRNewswire/ -- The M/A/R/C Group (NASDAQ: MARC), a leading provider of marketing services, today reported net income of $1,103,000, or $0.39 per share, for the fourth quarter ended Dec. 31, 1991. This compared with earnings for the fourth quarter of 1990 of $1,039000, or $0.36 per share. Revenues for the fourth quarter were $19,290,000, compared with $20,414,000 in the year-ago quarter.
For the year ended Dec. 31, 1991, M/A/R/C recorded net income of $3,364,000, or $1.18 per share, compared with earnings of $2,829,000, or $1.03 per share, for the previous 12 months. Revenues totaled $71,312,000 for the recent year, compared with $73,074,000 in 1990.
Fourth quarter and 12 month earnings per share increased 8.3 percent and 14.6 percent, respectively, over the comparable periods of 1990, and set records for both quarterly and full year performance. M/A/R/C attributed the earnings increases to both increased efficiencies and a shift in the mix of its services to those carrying higher margins.
The company noted that reported revenues for 1991 were affected by a change in the procedures for billing printing and mailing list costs related to its database marketing programs. Since Jan. 1, 1991, M/A/R/C has recorded as revenue only the commission on these items, and has passed through any actual production costs to the client. This had the effect of reducing reported revenues in 1991 by $1.4 million in the fourth quarter and $2.8 million for the year.
Cecil B. Phillips, chairman and chief executive officer, said, "M/A/R/C performed well in 1991 despite the difficult economy by offering our clients a cost-effective means to identify likely customers, measure their attitudes, stimulate demand, and deliver goods and services. At the same time, we refined our own data collection and data processing operations to make them more productive. We believe that businesses are increasingly recognizing the need to reach customers more efficiently and economically, and that M/A/R/C will benefit from this trend."
The M/A/R/C Group, based in Las Colinas, Texas, is a holding company whose four subsidiaries provide services such as custom marketing research, targeted database marketing, marketing simulation, and total quality management programs. With nine offices in the United States and Canada, its clients include leading consumer products, pharmaceutical, retailing, telecommunications and financial service companies.
THE M/A/R/C GROUP
Three Months 12 Months
12/31/91 12/31/90 12/31/91 12/31/90
Revenues (A) $19,290,000 $20,414,000 $71,312,000 $73,074,000
Net income $1,103,000 $1,039,000 $3,364,000 $2,829,000
share $0.39 $0.36 $1.18 $1.03
outstanding 2,829,437 2,684,323 2,850,420 2,721,846
(A) Due to a change in the procedures for billing certain database marketing production costs, reported revenues were reduced by approximately $1.4 million in the fourth quarter and $2.8 million in the year ended Dec. 31, 1991.
/CONTACT: Harold Curtis of M/A/R/C Group, 214-506-3407; or Edward Nebb or Joel Herskovits, Morgen-Walke Associates, 212-986-5900, for M/A/R/C Group/
(MARC) CO: M/A/R/C Group ST: Texas IN: SU: ERN SM -- NY040 -- 9853 02/18/92 10:49 EST