Global Leader Reports 20 Percent Revenue Growth and Raises Guidance for 2004
SEATTLE, Thursday, April 22, 2004 - Getty Images, Inc. (NYSE:GYI), the world's leading imagery company, today reported results for the first quarter ended March 31, 2004.
Quarterly Highlights: • Revenue grew 20 percent over the first quarter of 2003 • Operating margin improved to more than 27 percent compared to 18 percent in the year-ago period • Earnings per diluted share increased 87 percent to $0.43 from $0.23 in the first quarter of 2003
“Our strong results in the first quarter underscore the leverage in our business model and reinforce our optimism for 2004. The sales momentum and positive market trends we began to see at the end of 2003 continued throughout the first quarter of this year, with revenue improving consecutively each month, resulting in record revenue of $156.5 million and an operating margin of more than 27 percent,” said Jonathan Klein, Getty Images' co-founder and CEO.