Exhibit 99.1
FOR IMMEDIATE RELEASE
| Contact: | | Randall Weisenburger
212-415-3393 |
Omnicom Reports First Quarter 2007 Results
NEW YORK, APRIL 24, 2007- Omnicom Group Inc. (NYSE-OMC) today announced that net income for the first quarter of 2007 increased 10.4% to $183.0 million from $165.7 million in the first quarter of 2006. Diluted earnings per share in the first quarter of 2007 increased 17.2% to $1.09 per share from $0.93 per share in the first quarter of 2006.
Worldwide revenue increased 10.8% to $2,840.6 million from $2,562.9 million in the first quarter of 2006. Domestic revenue for the first quarter of 2007 increased 7.7% to $1,543.9 million compared to $1,433.0 million in the first quarter of 2006. International revenue increased 14.8% to $1,296.7 million compared to $1,129.9 million in the first quarter of 2006.
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, digital and interactive marketing, 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.
437 Madison Avenue, New York, N.Y. 10022. (212) 415-3600 Telex 428245 Fax (212) 415-3530
Omnicom Group Inc.
(Unaudited)
(In Millions of Dollars, Except Per Share Data)
Three Months Ended March 31,
| 2007
| 2006(1)
|
|---|
| Revenue | | $2,840.6 | | $2,562.9 | |
| Operating expenses | | 2,525.1 | | 2,278.5 | |
| | |
| |
| |
| Operating profit | | 315.5 | | 284.4 | |
| Net interest expense | | 18.3 | | 15.1 | |
| | |
| |
| |
| Income before income taxes | | 297.2 | | 269.3 | |
| Income taxes | | 100.5 | | 90.9 | |
| | |
| |
| |
| Income after income taxes | | 196.7 | | 178.4 | |
| | | | | | |
| Equity in earnings of affiliates | | 5.2 | | 4.9 | |
| Minority interests | | (18.9 | ) | (17.6 | ) |
| | |
| |
| |
| Net income | | $183.0 | | $165.7 | |
| | |
| |
| |
| Net income per common share | | | | | |
| Basic | | $1.11 | | $0.94 | |
| Diluted | | $1.09 | | $0.93 | |
| | |
| Weighted average shares (in millions) | |
| Basic | | 165.6 | | 176.7 | |
| Diluted | | 167.8 | | 177.8 | |
| | | | | | |
| Dividend declared per share | | $0.25 | | $0.25 | |
| (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. |
