Revenue growth continues to accelerate as industry leader reports significant increases in Operating Margin and Earnings per Share
October 20, 2004 : SEATTLE. Getty Images, Inc. (NYSE:GYI), the world's leading imagery company, today reported results for the third quarter ended September 30, 2004.
- Revenue grew 17.4 percent over the third quarter of 2003
- Operating income grew 53.6 percent over the prior year to $41.7 million, or a margin of 27.2 percent of revenue
- Reported earnings per diluted share increased to $0.44 from $0.16
- Earnings per diluted share increased 57 percent to $0.44 compared to $0.28, exclusive of debt extinguishment costs of $0.12 after tax in the third quarter of 2003
"We achieved very strong results in the third quarter, with significant year-over-year growth in revenue, operating income and earnings," said Jonathan Klein, Getty Images' co-founder and CEO. "We have made excellent progress on all of our 2004 initiatives, and we have continued to see an acceleration in revenue growth while exceeding our operating margin goals for every quarter this year. The platform continues to gain traction as we broaden and deepen our content offerings on gettyimages.com, the de facto home page for the creative and publishing professional."