Mosaic Group Inc., Toronto, had revenue of Canadian $171.8 million (approximately $US112 million) during the first quarter of 2001, up 89% from the Canadian $80.7 million (roughly $US52.6 million) in first quarter 2000. But the company had a net loss of Canadian $3.8 million ($US2.5 million) during the quarter, compared to net income of Canadian $3.2 million ($US2.1 million) in first quarter 2000. The quarter ended March 31.
The marketing services agency took a hit of Canadian $8.3 million ($US5.4 million) from discontinued operations, which contributed to its loss. But it also announced several client wins, including DIRECTV, for which it will be providing order fulfillment and address validation services, New Power, which engaged Mosaic to do telemarketing, direct mail, and "feet on the street" marketing for its electricity and natural gas services.
During the quarter Mosaic also appointed Ed Brown chief operating officer for its UK/Ireland division. Brown joined Mosaic from KP McVitie's, a division of packaged goods company United Biscuits.
