| Exhibit 99.1 |
| FOR IMMEDIATE RELEASE |
| Contact: | Randall Weisenburger 212-415-3393 |
| Omnicom Reports Fourth Quarter and Year-End 2003 Results |
| NEW YORK, February 17, 2004 – Omnicom Group Inc. (NYSE-OMC) today announced that net income for the fourth quarter of 2003 increased 10% to $221.3 million from $201.5 million in the fourth quarter of 2002. Diluted earnings per share increased 8% to $1.17 per share in 2003 from $1.08 per share in 2002. |
| Worldwide revenue increased 18.3% to $2,506.0 million in the fourth quarter of 2003 from $2,118.8 million in the fourth quarter of 2002. Domestic revenue for the fourth quarter of 2003 increased 15% to $1,327.9 million compared to $1,153.5 million in 2002. International revenue for the fourth quarter of 2003 increased 22% to $1,178.1 million compared to $965.3 million in 2002. |
| Net income for the twelve months ended December 31, 2003 increased 5% to $675.9 million from $643.5 million in 2002. Diluted earnings per share increased 4% to $3.59 per share in 2003 from $3.44 per share in 2002. |
| Worldwide revenue for the twelve months ended December 31, 2003 increased 14.4% to $8,621.4 million from $7,536.3 million in 2002. Domestic revenue for the twelve months ended December 31, 2003 increased 10% to $4,720.9 million compared to $4,284.6 million in 2002. International revenue for the twelve months ended December 31, 2003 increased 20% to $3,900.5 million compared to $3,251.7 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 fourth quarter and 2003 Year-End earnings conference call, go to www.omnicomgroup.com/InvestorRelations. |
| Omnicom Group Inc. |
| (Unaudited) (in Thousands of Dollars, Except Per Share Data) |
| Three Months Ended December 31 | 2003 | 2002 | |||
|---|---|---|---|---|---|
| Revenue | $ 2,506,047 | $ 2,118,845 | |||
| Operating expenses | 2,135,783 | 1,785,470 | |||
| Operating income | 370,264 | 333,375 | |||
| Net interest expense | 10,072 | 7,663 | |||
| Income before income taxes | 360,192 | 325,712 | |||
| Income taxes | 119,651 | 104,069 | |||
| Income after income taxes | 240,541 | 221,643 | |||
| Equity in affiliates/Minority interests | (19,259 | ) | (20,169 | ) | |
| Net income | $ 221,282 | $ 201,474 | |||
| Earnings per share | |||||
| Basic | $ 1.18 | $ 1.08 | |||
| Diluted | $ 1.17 | $ 1.08 | |||
| Weighted average shares (in thousands) | |||||
| Basic | 187,806 | 186,055 | |||
| Diluted(a) | 190,014 | 186,894 | |||
| 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 $313,000 and $244,00 respectively, related to the after-tax compensation expense from dividends on restricted shares. |
| Omnicom Group Inc. |
| (Unaudited) (in Thousands of Dollars, Except Per Share Data) |
| Twelve Months Ended December 31 | 2003 | 2002 | |||
|---|---|---|---|---|---|
| Revenue | $ 8,621,404 | $ 7,536,299 | |||
| Operating expenses | 7,456,729 | 6,432,184 | |||
| Operating income | 1,164,675 | 1,104,115 | |||
| Net interest expense | 42,826 | 30,492 | |||
| Income before income taxes | 1,121,849 | 1,073,623 | |||
| Income taxes | 380,927 | 375,637 | |||
| Income after income taxes | 740,922 | 697,986 | |||
| Equity in affiliates / Minority interests | (65,039 | ) | (54,527 | ) | |
| Net income | $ 675,883 | $ 643,459 | |||
| Earnings per share | |||||
| Basic | $ 3.61 | $ 3.46 | |||
| Diluted | $ 3.59 | $ 3.44 | |||
| Weighted average shares (in thousands) | |||||
| Basic | 187,258 | 186,094 | |||
| Diluted(a) | 188,656 | 187,603 | |||
| Dividend declared per share | $ 0.80 | $ 0.80 | |||
| (a) | Diluted earnings per share for 2003 and 2002 was calculated using an assumed increase in net income of $1,114,000 and $975,00 respectively, related to the after-tax compensation expense from dividends on restricted shares. |