NEW YORK, April 29 /PRNewswire-FirstCall/ -- Omnicom Group Inc.
(NYSE: OMC) today announced that net income for the first quarter of 2003
increased marginally to $128.6 million compared with the first quarter of 2002
and diluted earnings per share for the first quarter of 2003 increased to
$0.69 per share from $0.68 per share in the first quarter of 2002.
Worldwide revenue increased 12% to $1,937.2 million from $1,732.4 million
in the first quarter of 2002. Domestic revenue for the first quarter of 2003
increased 8% to $1,099.6 million compared to $1,022.1 million in 2002.
International revenue increased 18% to $837.6 million compared to
$710.3 million last year.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global
marketing and corporate communications company. Omnicom's branded networks
and numerous specialty firms provide advertising, strategic media planning and
buying, direct and promotional marketing, public relations and other specialty
communications services to over 5,000 clients in more than 100 countries.
For a live webcast and/or a replay of our first quarter earnings
conference call, go to www.omnicomgroup.com/InvestorRelations.
Omnicom Group Inc.
(in Thousands of Dollars, Except Per Share Data)
Three Months Ended March 31 2003 2002
Revenue $ 1,937,245 $1,732,426
Operating and net interest expense 1,722,159 1,514,890
Income before income taxes 215,086 217,536
Income taxes 75,211 79,858
Income after income taxes 139,875 137,678
Equity in affiliates / Minority interests (11,291) (9,112)
Net income $ 128,584 $128,566
Earnings per share
Basic $0.69 $0.69
Diluted $0.69 $0.68
Weighted average shares (in thousands)
Basic 186,556 186,671
Diluted (a) 187,329 189,490
Dividend declared per share $0.20 $0.20
(a) Diluted earnings per share for 2003 and 2002 was calculated using an
assumed increase in net income of $240,000 and $271,000 respectively,
related to the after-tax compensation expense from dividends on
SOURCE Omnicom Group Inc.
Katie Beaule [email protected]