Omnicom today reported a 4.4 percent slide in first-quarter revenues to $3.5B, slippage that CEO John Wren blames on negative foreign currency rate comparisons and divestitures.

Net income was flat at $263.2M.

On a regional basis, OMC's US revenues decreased 0.2 percent to $1.9B. Europe was down 14.8 percent to $606.8M, UK fell 5.4 percent to $338.7M and Asia/Pacific tanked 6.6 percent to $366.2M.

The PR group, which includes FleishmanHillard, Porter Novelli, Ketchum, Portland, Cone and Marina Maher Communications, fell 3.5 percent to $334.2M and 0.5 percent organically.