Omnicom Reports Third Quarter 2003 Results

NEW YORK, Oct. 28 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC) today announced that net income for the third quarter of 2003 increased 7% to $135.3 million from $126.1 million in the third quarter of 2002. Diluted earnings per share increased 6% to $0.72 per share in 2003 from $0.68 per share in 2002.

Worldwide revenue increased 15% to $2,028.6 million in the third quarter of 2003 from $1,768.5 million in the third quarter of 2002. Domestic revenue for the third quarter of 2003 increased 12% to $1,111.1 million compared to $991.4 million in 2002. International revenue for the third quarter of 2003 increased 18% to $917.5 million compared to $777.1 million in 2002.

Net income for the nine months ended September 30, 2003 increased 3% to $454.6 million from $442.0 million in 2002. Diluted earnings per share increased 3% to $2.42 per share in 2003 from $2.36 per share in 2002.

Worldwide revenue for the nine months ended September 30, 2003 increased 13% to $6,115.4 million from $5,417.5 million in 2002. Domestic revenue for the nine months ended September 30, 2003 increased 8% to $3,392.9 million compared to $3,131.1 million in 2002. International revenue for the nine months ended September 30, 2003 increased 19% to $2,722.5 million compared to $2,286.4 million in 2002.

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 third quarter earnings conference call, go to www.omnicomgroup.com/InvestorRelations.

    Omnicom Group Inc.
    (Unaudited)
    (in Thousands for Dollars, Except Per Share Data)

    Three Months Ended September 30                      2003            2002


    Revenue                                        $2,028,603      $1,768,459

    Operating expenses                              1,794,191       1,557,068

    Operating income                                  234,412         211,391

    Net interest expense                               11,534           5,564

    Income before income taxes                        222,878         205,827

    Income taxes                                       75,510          69,696

    Income after income taxes                         147,368         136,131

    Equity in affiliates/Minority interests           (12,099)        (10,027)


    Net income                                       $135,269        $126,104


    Earnings per share
     Basic                                              $0.72          $0.68
     Diluted                                            $0.72          $0.68


    Weighted average shares (in thousands)
     Basic                                            187,499        185,865
     Diluted                                          189,320        186,652

    Dividend declared per share                         $0.20          $0.20


    Omnicom Group Inc.
    (Unaudited)
    (in Thousands of Dollars, Except Per Share Data)


    Nine Months Ended September 30                      2003           2002

    Revenue                                       $6,115,356     $5,417,454

    Operating expenses                             5,320,945      4,646,714

    Operating income                                 794,411        770,740

    Net interest expense                              32,754         22,829

    Income before income taxes                       761,657        747,911

    Income taxes                                     261,276        271,568

    Income after income taxes                        500,381        476,343

    Equity in affiliates/Minority interests          (45,780)       (34,358)

    Net income                                      $454,601       $441,985


    Earnings per share
     Basic                                             $2.43          $2.37
     Diluted                                           $2.42          $2.36

    Weighted average shares (in thousands)
     Basic                                           187,076        186,107
     Diluted                                         188,177        187,923

    Dividend declared per share                      $  0.60        $  0.60

SOURCE Omnicom Group Inc.

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