Revenues of $669.6 million were relatively flat compared to the fourth quarter of 2004. Revenues were up 7 percent due to growth in both CMG and IMG, excluding
the impact of lower revenues from Cingular. GAAP operating income more than doubled to $66.7 million compared with $30.8 million in the prior year. Excluding
restructuring charges in both years, operating income increased 29 percent to $79.0 million versus $61.2 million in the fourth quarter of 2004. The improvement
resulted from successful implementation of restructuring initiatives in both IMG and CMG.
Doesn’t look like they could find a way to dress that up.
In other words, we could make more money because we laid people off.
I figured they’d be making more money than that though.