Getty Images Financial Update-- HOT....
Seattle, WA, May 01, 2007. Getty Images, Inc., the world's leading creator and distributor of visual content, today reported preliminary results for the first quarter ended March 31, 2007. Results presented in this release are subject to change as a result of the matters described in the Restatement of Financial Statements section below.
Quarterly Highlights
Revenue grew 6 percent to a record $213 million compared to $201 million in the first quarter of 2006
Royalty-free imagery revenue grew 13 percent
Editorial imagery revenue grew 16 percent
Earnings per diluted share were $0.63. Excluding costs related to the company's review of its equity compensation grant practices and a terminated acquisition, earnings per diluted share were $0.68
Cash and cash equivalents grew by $47 million during the quarter to $387 million
Agreed to acquire WireImage, a leading creator of entertainment and event imagery
Labels: Getty images, Ken McCoy Photojournalist, News Updates
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