| Exhibit 99.1 |
| Omnicomnews |
| FOR IMMEDIATE RELEASE |
| Contact: | Randall Weisenburger 212-415-3393 |
| Omnicom Reports Second Quarter 2003 Results |
| NEW YORK, July 29, 2003—Omnicom Group Inc. (NYSE-OMC) today announced that net income for the second quarter of 2003 increased 2% to $190.7 million from $187.3 million in the second quarter of 2002. Diluted earnings per share increased 2% to $1.02 per share in 2003 from $1.00 per share in 2002. |
| Worldwide revenue increased 12.2% to $2,149.5 million in the second quarter of 2003 from $1,916.6 million in the second quarter of 2002. Domestic revenue for the second quarter of 2003 increased 6% to $1,182.3 million compared to $1,117.5 million in 2002. International revenue for the second quarter of 2003 increased 21% to $967.2 million compared to $799.1 million in 2002. |
| Net income for the six months ended June 30, 2003 increased 1% to $319.3 million from $315.9 million in 2002. Diluted earnings per share increased 2% to $1.70 per share in 2003 from $1.67 per share in 2002. |
| Worldwide revenue for the six months ended June 30, 2003 increased 12% to $4,086.8 million from $3,649.0 million in 2002. Domestic revenue for the six months ended June 30, 2003 increased 7% to $2,281.8 million compared to $2,139.7 million in 2002. International revenue for the six months ended June 30, 2003 increased 20% to $1,805.0 million compared to $1,509.3 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 second quarter earnings conference call, go to www.omnicomgroup.com/InvestorRelations. |
| 437 Madison Avenue, New York, N.Y. 10022. (212) 415-3600 Telex 428245 Fax (212) 415-3530 |
| Omnicom Group Inc. |
| (Unaudited) (in Thousands of Dollars, Except Per Share Data) |
| Three Months Ended June 30 | 2003 | 2002 | |||
|---|---|---|---|---|---|
| Revenue | $ 2,149,508 | $ 1,916,569 | |||
| Operating and net interest expense | 1,825,815 | 1,592,021 | |||
| Income before income taxes | 323,693 | 324,548 | |||
| Income taxes | 110,555 | 122,014 | |||
| Income after income taxes | 213,138 | 202,534 | |||
| Equity in affiliates/Minority interests | (22,391 | ) | (15,219 | ) | |
| Net income | $ 190,747 | $ 187,315 | |||
| Earnings per share | |||||
| Basic | $ 1.02 | $ 1.01 | |||
| Diluted | $ 1.02 | $ 1.00 | |||
| Weighted average shares (in thousands) | |||||
| Basic | 187,172 | 185,705 | |||
| Diluted(a) | 188,125 | 188,119 | |||
| 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 $302,000 and $188,000 respectively, related to the after-tax compensation expense from dividends on restricted shares. |
| 437 Madison Avenue, New York, N.Y. 10022. (212) 415-3600 Telex 428245 Fax (212) 415-3530 |
| Omnicom Group Inc. |
| (Unaudited) (in Thousands of Dollars, Except Per Share Data) |
| Six Months Ended June 30 | 2003 | 2002 | |||
|---|---|---|---|---|---|
| Revenue | $ 4,086,753 | $ 3,648,995 | |||
| Operating and net interest expense | 3,547,974 | 3,106,911 | |||
| Income before income taxes | 538,779 | 542,084 | |||
| Income taxes | 185,766 | 201,872 | |||
| Income after income taxes | 353,013 | 340,212 | |||
| Equity in affiliates/Minority interests | (33,682 | ) | (24,331 | ) | |
| Net income | $ 319,331 | $ 315,881 | |||
| Earnings per share | |||||
| Basic | $ 1.71 | $ 1.70 | |||
| Diluted | $ 1.70 | $ 1.67 | |||
| Weighted average shares (in thousands) | |||||
| Basic | 186,864 | 186,227 | |||
| Diluted(a) | 187,658 | 189,056 | |||
| Dividend declared per share | $ 0.40 | $ 0.40 | |||
| (a) | Diluted earnings per share for 2003 and 2002 was calculated using an assumed increase in net income of $604,000 and $375,000 respectively, related to the after-tax compensation expense from dividends on restricted shares. |
| 437 Madison Avenue, New York, N.Y. 10022. (212) 415-3600 Telex 428245 Fax (212) 415-3530 |
