Interpublic Group of Companies, Inc. announced its fourth quarter results on Friday morning. The group posted a disappointing quarter as the profit fell by 38%, badly hurt by the recession.

The Interpublic Group of Companies Inc., which operates in more than 90 countries worldwide, posted a net income of $129.4 million or 24 cents a share, decreasing by 38% while in same quarter last year the net income was reported $209.8 million or 39 cents a share.

The net income in the fourth quarter was reported in line with the expectations of the market analysts who estimated a net income of 24 cents per share for the period. The revenue of the company was also reported lower in the fourth quarter and was posted $1.8 billion, while in the same quarter last year the revenue was reported $1.90 billion.

Interpublic also provided an optimistic outlook for the nest fiscal as the economic conditions appear to have stabilized. Interpublic said that its clients are beginning to re focus on their brands, and the tone of the business is one of cautious optimism. The company also expects that the competitive agencies and disciplined financial management will help it to improve profitability in FY 2010.