BrandPartners narrows gap in third quarter
While BrandPartners made progress in posting earnings for the third quarter of 2006, the Rochester-based diversified retail environment provider still struggled with several quarters of losses.
Revenues were $13.5 million for the quarter ended Sept. 30, compared to revenues of $11.9 million for the same quarter a year ago. Net income for the quarter was positive at $7,000 vs. a loss of $150,000 in the third quarter of 2005. Diluted shares were unchanged at 0 cents for the comparable quarters.
Results for the nine-month period ended Sept. 30 lagged behind the gains made in the third quarter. Revenue for the first nine months of 2006 was $37.5 million, down about 4 percent from $39 million for the nine months ended Sept. 30, 2005.
BrandPartners attributed decreased performance “to a lessening of merger and acquisition activity in the financial services industry,” its largest customer sector.
“During 2006 we believe we set the stage for building longer-term value by generating revenues in a new subsidiary, signing pilot projects based on presenting innovative services to our clients developed by our product development team, restructuring our service platform in digital marketing, and consulting with clients on the next generation of their retail experience,” said James F. Brooks, chief executive officer for BrandPartners Group. — CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW