-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, A6lDYnJJQ2DbroxRsx8tPPOearndlBBuytkDM/ODgWDiL2zxk5eRek3NhP2uvlVz M+lijIqLEbWXvZqVKnUdyQ== 0000891092-95-000185.txt : 19951119 0000891092-95-000185.hdr.sgml : 19951119 ACCESSION NUMBER: 0000891092-95-000185 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951114 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: OMNICOM GROUP INC CENTRAL INDEX KEY: 0000029989 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING AGENCIES [7311] IRS NUMBER: 131514814 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-10551 FILM NUMBER: 95591359 BUSINESS ADDRESS: STREET 1: 437 MADISON AVE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2124153600 MAIL ADDRESS: STREET 1: 437 MADISON AVE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: DOYLE DANE BERNBACH GROUP INC DATE OF NAME CHANGE: 19861117 FORMER COMPANY: FORMER CONFORMED NAME: DOYLE DANE BERNBACH INTERNATIONAL INC DATE OF NAME CHANGE: 19850604 FORMER COMPANY: FORMER CONFORMED NAME: DOYLE DANE BERNBACH INC DATE OF NAME CHANGE: 19781226 10-Q 1 FORM 10-Q CONFORMED COPY FORM 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For Quarter Ended: September 30, 1995 Commission file number: 1-10551 Omnicom Group Inc. (Exact name of registrant as specified in its charter) New York 13-1514814 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 437 Madison Avenue, New York, New York 10022 (Address of principal executive offices) (Zip Code) (212) 415-3600 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] The number of shares of common stock of the Company issued and outstanding at October 31, 1995 is 37,629,000. OMNICOM GROUP INC. AND SUBSIDIARIES INDEX Page No. -------- PART I. FINANCIAL INFORMATION Item 1. Financial Statements: Consolidated Condensed Balance Sheets - September 30, 1995, December 31, 1994 and September 30, 1994 2 Consolidated Condensed Statements of Income - Three Months Ended September 30, 1995 and 1994 Nine Months Ended September 30, 1995 and 1994 3 Consolidated Condensed Statements of Cash Flows - Nine Months Ended September 30, 1995 and 1994 4 Notes to Consolidated Condensed Financial Statements 5-9 Item 2. Management's Discussion of Financial Condition and Results of Operations 10-15 PART II. OTHER INFORMATION Item 6. Exhibits 16 -1- PART I. FINANCIAL INFORMATION Item 1. Financial Statements OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Dollars in Thousands)
Restated (Note 2) ------------------------------- Assets September 30, December 31, September 30, 1995 1994 1994 ----------- ----------- ----------- Current assets: Cash and cash equivalents $ 233,254 $ 241,797 $ 145,841 Investments available-for-sale, at market, which approximates cost 20,838 28,425 11,411 Accounts receivable, less allowance for doubtful accounts of $23,082, $23,528 and $23,197 1,367,225 1,212,501 1,011,317 Billable production orders in process 157,470 82,357 122,578 Prepaid expenses and other current assets 163,790 146,516 146,591 ----------- ----------- ----------- Total current assets 1,942,577 1,711,596 1,437,738 Furniture, equipment and leasehold improvements, less accumulated depreciation and amortization of $259,208, $238,468 and $237,205 198,694 192,450 191,710 Investments in affiliates 187,630 164,524 124,183 Intangibles, less amortization of $155,514, $133,848 and $129,050 815,303 758,973 697,875 Deferred tax benefits 81,587 70,431 57,689 Deferred charges and other assets 123,082 140,882 151,355 ----------- ----------- ----------- Total assets $ 3,348,873 $ 3,038,856 $ 2,660,550 =========== =========== =========== Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 1,331,705 $ 1,508,692 $ 989,451 Payable to banks 81,900 34,177 115,089 Other accrued liabilities 639,429 580,753 521,780 Accrued taxes on income 51,902 52,989 25,816 ----------- ----------- ----------- Total current liabilities 2,104,936 2,176,611 1,652,136 Long term debt 513,100 199,487 372,303 Deferred compensation and other liabilities 130,887 146,010 128,503 Minority interests 48,852 42,738 37,209 Shareholders' equity: Common stock 19,961 19,816 19,819 Additional paid-in capital 375,996 366,511 367,252 Retained earnings 305,842 248,406 220,977 Unamortized restricted stock (32,985) (25,631) (28,506) Cumulative translation adjustment (18,731) (28,254) (19,238) Treasury stock (98,985) (106,838) (89,905) ----------- ----------- ----------- Total shareholders' equity 551,098 474,010 470,399 ----------- ----------- ----------- Total liabilities and shareholders' equity $ 3,348,873 $ 3,038,856 $ 2,660,550 =========== =========== ===========
The accompanying notes to consolidated condensed financial statements are an integral part of these balance sheets. -2- OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Dollars in Thousands, Except Per Share Data)
Three Months Ended September 30, Nine Months Ended September 30, --------------------------------- ---------------------------------- 1994 1994 1995 Restated (Note 2) 1995 Restated (Note 2) ---------- ----------------- ---------- ----------------- Revenues: Commissions and fees $ 537,666 $ 456,396 $1,607,015 $1,332,417 Operating expenses: Salaries and related costs 321,863 267,656 930,957 761,798 Office and general expenses 169,959 151,966 492,936 425,950 ---------- ---------- ---------- ---------- Total operating expenses 491,822 419,622 1,423,893 1,187,748 ---------- ---------- ---------- ---------- Operating profit 45,844 36,774 183,122 144,669 Net interest expense: Interest and dividend income (2,953) (3,206) (10,343) (9,476) Interest paid or accrued 10,130 9,076 33,526 29,827 ---------- ---------- ---------- ---------- Net interest expense 7,177 5,870 23,183 20,351 ---------- ---------- ---------- ---------- Income before income taxes and change in accounting principle 38,667 30,904 159,939 124,318 Income taxes: Federal 7,539 4,145 23,014 18,673 State and local 2,870 1,631 8,654 5,796 International 5,058 6,971 33,183 26,761 ---------- ---------- ---------- ---------- Total income taxes 15,467 12,747 64,851 51,230 ---------- ---------- ---------- ---------- Income after income taxes and before change in accounting principle 23,200 18,157 95,088 73,088 Equity in affiliates 3,736 3,432 12,090 9,384 Minority interests (3,258) (2,882) (14,784) (9,417) ---------- ---------- ---------- ---------- Income before change in accounting principle 23,678 18,707 92,394 73,055 Cumulative effect of change in accounting principle -- -- -- (28,009) ---------- ---------- ---------- ---------- Net income $ 23,678 $ 18,707 $ 92,394 $ 45,046 ========== ========== ========== ========== Earnings per share: Income before change in accounting principle: Primary $ 0.64 $ 0.52 $ 2.49 $ 2.10 Fully diluted $ 0.64 $ 0.52 $ 2.46 $ 2.06 Cumulative effect of change in accounting principle: Primary $ -- $ -- $ -- $ (0.80) Fully diluted $ -- $ -- $ -- $ (0.80) Net income: Primary $ 0.64 $ 0.52 $ 2.49 $ 1.29 Fully diluted $ 0.64 $ 0.52 $ 2.46 $ 1.29 Dividends declared per common share $ 0.35 $ 0.31 $ 0.97 $ 0.93
The accompanying notes to consolidated condensed financial statements are an integral part of these statements. -3- OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands)
Nine Months Ended September 30, ---------------------- 1994 Restated 1995 (Note 2) --------- --------- Cash flows from operating activities: Net income $ 92,394 $ 45,046 Adjustments to reconcile net income to net cash used for operating activities: Depreciation and amortization of tangible assets 33,802 30,757 Amortization of intangible assets 20,914 16,329 Minority interests 14,784 9,150 Earnings of affiliates in excess of dividends received (3,423) (5,588) (Increase)decrease in deferred tax benefits (11,900) 1,523 Provision for losses on accounts receivable 4,568 4,530 Amortization of restricted shares 7,895 7,301 (Increase)decrease in accounts receivable (128,818) 25,223 Increase in billable production (73,508) (45,465) Increase in other current assets (5,184) (16,539) Decrease in accounts payable (213,280) (222,210) Increase in other accrued liabilities 48,191 34,595 Decrease in accrued income taxes (3,894) (6,373) Other 197 34,373 --------- --------- Net cash used for operating activities (217,262) (87,348) --------- --------- Cash flows from investing activities: Capital expenditures (37,102) (35,631) Payments for purchases of equity interests in subsidiaries and affiliates, net of cash acquired (87,217) (83,079) Payments for purchases of investments available-for-sale and other investments (10,695) (5,095) Proceeds from sales of investments available-for-sale and other investments 30,914 32,326 --------- --------- Net cash used for investing activities (104,100) (91,479) --------- --------- Cash flows from financing activities: Net borrowings under lines of credit 66,707 60,836 Share transactions under employee stock plans 5,676 7,621 Proceeds from issuance of principal of debt obligations 291,415 154,140 Dividends and loans to minority stockholders (14,434) (8,182) Dividends paid (33,044) (30,266) Purchase of treasury shares (8,780) (50,762) --------- --------- Net cash provided by financing activities 307,540 133,387 --------- --------- Effect of exchange rate changes on cash and cash equivalents 5,279 11,157 --------- --------- Net decrease in cash and cash equivalents (8,543) (34,283) Cash and cash equivalents at beginning of period 241,797 180,124 --------- --------- Cash and cash equivalents at end of period $ 233,254 $ 145,841 ========= ========= Supplemental Disclosures: Income taxes paid $ 66,087 $ 46,513 ========= ========= Interest paid $ 30,300 $ 29,203 ========= =========
The accompanying notes to consolidated condensed financial statements are an integral part of these statements. -4- OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS 1) The consolidated condensed interim financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. 2) On August 31, 1995, the Company completed the acquisitions of Ross Roy Communications and Chiat/Day Holdings. The Company issued 859,634 shares of its common stock for all the outstanding shares of Ross Roy Communications. The Company issued 418,689 shares of its common stock in connection with the combination of Chiat/Day Holdings. Both transactions were accounted for under the pooling-of-interests method of accounting. Accordingly, the Company's financial statements have been restated to include the operating results of Ross Roy Communications and Chiat/Day Holdings for all periods presented. -5- OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS The following unaudited pro forma data summarizes the combined results of operations of both acquisitions and Omnicom Group Inc. as though the transactions occurred on January 1, 1993 (Dollars in Thousands). Six months ended Omnicom Ross Roy and June 30, 1995 Group Chiat/Day Combined - -------------------------------------------------------------------------------- Commissions and fees $ 985,921 $ 83,428 $1,069,349 Income before change in accounting principle $ 66,289 $ 2,427 $ 68,716 Net income $ 66,289 $ 2,427 $ 68,716 - -------------------------------------------------------------------------------- Year Ended December 31, 1994 - -------------------------------------------------------------------------------- Commissions and fees $1,756,205 $ 151,590 $1,907,795 Income before change in accounting principle $ 108,134 $ 3,361 $ 111,495 Net income $ 80,125 $ 3,361 $ 83,486 - -------------------------------------------------------------------------------- Year Ended December 31, 1993 - -------------------------------------------------------------------------------- Commissions and fees $1,516,475 $ 172,485 $1,688,960 Income before change in accounting principle $ 85,345 $ (19,777)* $ 65,568 Net income $ 85,345 $ (19,777)* $ 65,568 * Includes net unusual charges of $18,522 primarily related to lease loss provisions. 3) These statements reflect all adjustments, consisting of normal recurring accruals which, in the opinion of management, are necessary for a fair presentation of the information contained therein. Certain reclassifications have been made to the September 30, 1994 reported amounts -6- OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS to conform them with the September 30, 1995 and December 31, 1994 presentation. It is suggested that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 1994. 4) Results of operations for the interim periods are not necessarily indicative of annual results. 5) Primary earnings per share is based upon the weighted average number of common shares and common share equivalents outstanding during each period. Fully diluted earnings per share is based on the above, and if dilutive, adjusted for the assumed conversion of the Company's Convertible Subordinated Debentures and the assumed increase in net income for the after tax interest cost of these debentures. The number of shares used in the computations of primary and fully diluted earnings per share were as follows: Three Months Nine Months Ended September 30, Ended September 30, ------------------------ ------------------------ 1995 1994 1995 1994 ---------- ---------- ---------- ---------- Primary 37,290,100 36,244,400 37,179,600 34,914,500 Fully diluted 37,355,700 36,286,400 39,874,500 40,053,900 -7- OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS For purposes of computing fully diluted earnings per share on net income for the three months ended September 30, 1995 and 1994 and on net income and the cumulative effect of the change in accounting principle for the nine months ended September 30, 1994, the Company's Convertible Subordinated Debentures were not reflected in the computations as their inclusion would have been anti-dilutive. 6) On January 4, 1995, an indirect wholly-owned subsidiary of the Company issued Deutsche Mark 200 million Floating Rate Bonds (approximately $130 million at the January 4, 1995 exchange rate). The bonds are unsecured, unsubordinated obligations of the issuer and are unconditionally and irrevocably guaranteed by the Company. The bonds bear interest at a per annum rate equal to Deutsche Mark three month LIBOR plus 0.65% and may be redeemed at the option of the issuer on January 5, 1997 or any interest payment date thereafter at their principal amount plus any accrued but unpaid interest. Unless redeemed earlier, the bonds will mature on January 5, 2000 and will be repaid at par. 7) On June 1, 1994, the Company issued a Notice of Redemption for its $100 million 6.5% Convertible Subordinated Debentures with a scheduled maturity in 2004. Prior to the July 27, 1994 redemption date, debenture -8- OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS holders elected to convert all of their outstanding debentures into common stock of the Company at a conversion price of $28.00 per common share. 8) Effective January 1, 1994, the Company adopted the provisions of Statement of Financial Accounting Standards No. 112 "Employers' Accounting for Postemployment Benefits" ("SFAS 112"). The cumulative after tax effect of the adoption of this Statement decreased net income by $28,009,000. 9) Effective January 1, 1996 the Company is required to adopt SFAS No. 121 "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of" ("SFAS No. 121"). The Company estimates that the adoption of SFAS No. 121 will not have a material effect on the results of operations or the financial position of the Company. -9- Item 2. MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Results of Operations Third Quarter 1995 Compared to Third Quarter 1994 Consolidated worldwide revenues from commission and fee income increased 17.8% from $456.4 million in the third quarter of 1994 to $537.7 million in the third quarter of 1995. Consolidated domestic revenues increased 13.7% from $239.5 million in 1994 to $272.3 million in 1995. Consolidated international revenues increased 22.4% from $216.9 million in 1994 to $265.4 million in 1995. Absent the effect of the net acquisitions of subsidiary companies and movements in international currency exchange rates, consolidated worldwide revenues increased 13.7% in the third quarter of 1995 as compared to the same period in 1994. Operating expenses increased 17.2% in the third quarter of 1995 as compared to the third quarter of 1994. Excluding the effect of the net acquisition activity and movements in international currency exchange rates mentioned above, operating expenses increased 12.7% over 1994 levels. This increase reflects normal salary increases and growth in client service expenditures to support the increased revenue base. Operating expenses as a percentage of commissions and fees were 91.5% in the third quarter of 1995 as compared to 91.9% in the third quarter of 1994. -10- MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED) Net interest expense increased by $1.3 million in the third quarter of 1995 as compared to the same period in 1994. This increase reflects higher average interest rates on borrowings. Pretax profit margin was 7.2% in the third quarter of 1995 as compared to 6.8% in the same period in 1994. Operating margin, which excludes interest and dividend income and interest expense, was 8.5% in the third quarter of 1995 as compared to 8.1% in the same period in 1994. The effective income tax rate was 40.0% in the third quarter of 1995 as compared to 41.2% in the third quarter of 1994. The decrease primarily reflects a lower international effective tax rate caused by fewer international operating losses with no associated tax benefit and tax planning strategies implemented in certain non-U.S.countries. The increase in equity in affiliates is indicative of greater profits earned by companies in which the Company owns less than a 50% equity interest. The increase in minority interest expense is primarily due to greater earnings by companies where minority interests exist and additional minority interests resulting from acquisitions. -11- MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED) Net income increased 26.6% to $23.7 million in the third quarter of 1995 as compared to $18.7 million in the same period in 1994. Absent the effect of net acquisitions and movements in international currency exchange rates, net income increased 32.5% in the third quarter of 1995 as compared to the third quarter of 1994. Nine Months 1995 Compared to Nine Months 1994 Consolidated worldwide commission and fee income increased 20.6% from $1,332.4 million in the first nine months of 1994 to $1,607.0 million in the first nine months of 1995. Consolidated domestic commission and fee income increased 14.4% from $709.6 million in the first nine months of 1994 to $812.1 million in the same period in 1995. Consolidated international commission and fee income increased 27.6% from $622.8 million in the first nine months of 1994 to $794.9 million in the same period in 1995. Absent the effect of movements in international currency exchange rates and net acquisitions of subsidiary companies made subsequent to the third quarter of 1994, consolidated worldwide commission and fee income increased 13.0% in the first nine months of 1995 versus the first nine months of 1994. Operating expenses increased by 19.9% in the first nine months of 1995 as compared to the same period in 1994. Excluding the effect of movements in international currency exchange rates and net acquisition activity, operating -12- MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED) expenses increased 12.6% over 1994 levels. This increase occurred for reasons discussed in the third quarter narrative above. Net interest expense in the first nine months of 1995 increased by $2.8 million as compared to the same period in 1994. This increase occurred for reasons discussed in the third quarter narrative above. Pretax profit margin for the first nine months of 1995 was 10.0% as compared to 9.3% in the same period in 1994. Operating profit margin, which excludes interest and dividend income and interest expense, was 11.4% in the first nine months of 1995 as compared to 10.9% in the same period in 1994. The effective income tax rate was 40.5% in the first nine months of 1995 as compared to 41.2% in the first nine months of 1994. The decrease primarily reflects a lower international effective tax rate caused by fewer international operating losses with no associated tax benefit and tax planning strategies implemented in certain non-U.S.countries. Both equity in affiliates and minority interests increased during the period. The increase in equity in affiliates is indicative of greater profits earned by companies in which the Company owns less than a 50% equity interest. The increase in minority interest expense is primarily due to greater earnings by companies where minority interests exist; additional minority interests -13- MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED) resulting from acquisitions; and the acquisition of a majority interest in several companies which were previously less than 50% owned. Net income increased 26.5% to $92.4 million in the first nine months of 1995 as compared to $73.1 million before a change in accounting principle, in the same period in 1994. Absent the effect of net acquisitions and movements in international currency exchange rates, net income increased 19.3% in the first nine months of 1995 as compared to the same period in 1994. Capital Resources and Liquidity Cash and cash equivalents at September 30, 1995 decreased to $233.3 million from $241.8 million at December 31, 1994. The relationship between payables to the media and suppliers and receivables from clients, at September 30, 1995, is consistent with other companies in the industry. The Company maintains relationships with a number of banks worldwide, which have extended unsecured committed lines of credit in amounts sufficient to meet the Company's cash needs. At September 30, 1995, the Company had $441.9 million in committed lines of credit, comprised of a $250.0 million revolving credit agreement expiring June 30, 1997, and $191.9 million in unsecured committed lines of credit, principally outside of the United States. Of the $441.9 million -14- MANAGEMENT'S DISCUSSION OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED) in committed lines, $168.2 million remained available at September 30, 1995. Management believes the aggregate lines of credit available to the Company are adequate to support its short term cash requirements for dividends, capital expenditures, repayment of debt and maintenance of working capital. The Company anticipates that future cash flows from operations plus funds available under existing line of credit facilities will be adequate to support the long term cash requirements as presently contemplated. On January 4, 1995, an indirect wholly-owned subsidiary of the Company issued Deutsche Mark 200 million Floating Rate Bonds(approximately $130 million at the January 4, 1995 exchange rate), due January 5, 2000. The bonds bear interest at a per annum rate equal to Deutsche Mark three month LIBOR plus 0.65%. The Company has no present plans to introduce incremental additional issues of long term debt. -15- PART II. OTHER INFORMATION Item 6. Exhibits Exhibit Number Description of Exhibit -------------- ---------------------- 27 Appendix A to Item 601(c) of Regulation S-K Commercial and Industrial Companies - Article 5 of Regulation S-X (filed in electronic format only) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Omnicom Group Inc. (Registrant) Date November 14, 1995 /s/ Fred J. Meyer ------------------------ Fred J. Meyer Chief Financial Officer and Director (Principal Financial Officer) Date November 14, 1995 /s/ Dale A. Adams ------------------------ Dale A. Adams Controller (Principal Accounting Officer) -16- EX-27 2 FDS --
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS OF OMNICOM GROUP INC. AND SUBSIDIARIES AS OF AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 3-MOS DEC-31-1995 SEP-30-1995 233,254 20,838 1,390,307 23,082 0 1,942,577 457,902 259,208 3,348,873 2,104,936 513,100 19,961 0 0 531,137 3,348,873 0 1,607,015 0 930,957 492,936 4,568 33,526 159,939 64,851 92,394 0 0 0 92,394 2.49 2.46
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