During his recent conference call, Jonathan Klein, CEO of Getty Images, outlined a number of priorities for the company – getting units licensed and revenue stable tops the list.
Alamy has launched a new search engine. It was developed to support collection growth and provide the platform for upcoming new tools and features. The company's goal is to give contributors greater control over how their images are indexed.
Stock Index Online has announced the addition of SEARCH for Specialist Stock, an aggregator image-search engine, to stockindexonline.com. The parent company of the Stock Index brand, The Publishing Factory, has positioned SEARCH as the alternative to "a business controlled by the two Gs: Google and Getty."
Getty Images CEO, Jonathan Klein, intends to operate out of New York for about a year beginning in September. The rest of the executive team, with the exception of a soon to be names senior vice president of marketing, will remain in the Seattle headquarters.
Investors punished Getty Images in the first day after its announcement of its Q2 2007 results. The stock dropped 19.4% to $36.14 from its previous close of $44.84. If we go back two years to November 2005 when the stock price hit its peak in the mid-$90s, we see a steady decline. There are big drops almost every time Getty has made a quarterly announcement. A chart of the stock price over five years looks like a climb of Mount Everest, reaching the peak in November 2005 and now almost returning to the bottom again.
Getty Images reported revenue for Q2 2007 of $218 million, up from $204.8 million in Q2 2006 and $212.6 million in Q1 2007. Net income for the quarter was $33.7 million, with earnings per diluted share of $0.56. This compared to $23.2 million or $0.37 per share in the second quarter of 2006, but was down from $38 million or $0.63 per share in Q1 2007.