Exhibit 99.1 |
FOR IMMEDIATE RELEASE
| Contact: | Randall Weisenburger 212-415-3393 |
Omnicom Reports First Quarter 2006 Results
NEW YORK, APRIL 25, 2006– Omnicom Group Inc. (NYSE-OMC) today announced that net income for the first quarter of 2006 increased 10% to $165.7 million from $150.5 million in the first quarter of 2005. Diluted earnings per share in the first quarter of 2006 increased 13% to $0.93 per share from $0.82 per share in the first quarter of 2005.
Worldwide revenue increased 7% to $2,562.9 million from $2,403.0 million in the first quarter of 2005. Domestic revenue for the first quarter of 2006 increased 9% to $1,433.0 million compared to $1,312.1 million in the first quarter of 2005. International revenue increased 4% to $1,129.9 million compared to $1,090.9 million in the first quarter of 2005.
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.
(Unaudited)
(In Millions of Dollars, Except Per Share Data)
| Three Months Ended March 31, | 2006(1) | 2005 | |||
|---|---|---|---|---|---|
| Revenue | $ 2,562.9 | $ 2,403.0 | |||
| Operating expenses | 2,278.5 | 2,145.7 | |||
| Operating profit | 284.4 | 257.3 | |||
| Net interest expense | 15.1 | 12.1 | |||
| Income before income taxes | 269.3 | 245.2 | |||
| Income taxes | 90.9 | 86.1 | |||
| Income after income taxes | 178.4 | 159.1 | |||
| Equity in earnings of affiliates | 4.9 | 5.2 | |||
| Minority interests | (17.6 | ) | (13.8 | ) | |
| Net income | $ 165.7 | $ 150.5 | |||
| Net income per common share | |||||
| Basic | $ 0.94 | $ 0.82 | |||
| Diluted | $ 0.93 | $ 0.82 | |||
| Weighted average shares (in millions) | |||||
| Basic | 176.7 | 182.6 | |||
| Diluted | 177.8 | 183.8 | |||
| Dividend declared per share | $ 0.250 | $ 0.225 | |||
| (1) | Included in operating profit and net income for the quarter ended March 31, 2006 is a benefit of $3.6 million and $2.0 million, respectively, resulting from the cumulative effect of the adoption of SFAS 123(R) and the requirement to provide an estimate for forfeitures on all unvested stock-based compensation awards, as of January 1, 2006. |