SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT


     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


        Date of Report (Date of earliest event reported): April 30, 2003

                          INTERNET PICTURES CORPORATION
                          -----------------------------
             (Exact name of registrant as specified in its charter)


                          DELAWARE 000-26363 52-2213841
                    (State or other (Commission (IRS Employer
       jurisdiction of incorporation) File Number) Identification Number)


3160 Crow canyon road, san ramon, california                        94583
--------------------------------------------------------------------------------
(Address of principal executive offices)                          (Zip Code)


Registrant's telephone number, including area code:            (925) 242-4002
---------------------------------------------------            ---------------

                                       N/A
  -----------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

<PAGE>

ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
        INFORMATION AND EXHIBITS.

   (c)  Exhibits

Exhibit
Number                              Description
-------                         -------------------
99.1                       Press Release dated April 30, 2003


ITEM 9:  REGULATION FD DISCLOSURE
The  information  contained  in this  Item 9 of this  Current  Report  is  being
furnished  pursuant to "Item 12. Results of Operations and Financial  Condition"
of Form 8-K in accordance  with SEC Release Nos.  33-8216;  34-47583  (March 27,
2003).

The  information  in this  Current  Report is being  furnished  and shall not be
deemed "filed" for the purposes of Section 18 of the Securities  Exchange Act of
1934, as amended,  or otherwise subject to the liabilities of that Section.  The
information in this Current Report shall not be  incorporated  by reference into
any registration  statement or other document  pursuant to the Securities Act of
1933, as amended.

On  April  30,  2003,  Internet  Pictures  Corporation  issued  a press  release
announcing its financial results for the quarter ended March 31, 2003. A copy of
the press release is attached hereto as Exhibit 99.1 and is incorporated  herein
by reference.

<PAGE>

                                   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 hereunto duly authorized.

INTERNET PICTURES CORPORATION

Dated:  April 30, 2003             /s/Don Strickland
                                   ---------------------------------
                                   Don Strickland
                                   President and Chief Executive Officer


<PAGE>
                                  Exhibit Index


Exhibit
Number                            Description
------                     --------------------------
99.1                   Press Release dated April 30, 2003


<PAGE>
                                                                   Exhibit 99.1

                                                                    IR Contact:
                                                                   ------------
                                                                    Paul Farmer
                                                                (925) 242- 4002
                                                           paul.farmer@ipix.com

                   iPIX REPORTS RESULTS FOR first quarter 2003
                      Third consecutive profitable quarter

OAK RIDGE,  TN/SAN RAMON,  CA - April 30, 2003 - Internet  Pictures  Corporation
(Nasdaq:  IPIX; "iPIX") announces first quarter 2003 highlights:

     o Revenues 33% higher than prior year

     o Gross margins 67%

     o Net income of $0.4 million


First Quarter Financial Results (See attachments)


iPIX, the global leader in mission critical imaging  solutions,  today announced
financial  results for the quarter ended March 31, 2003.  iPIX reported  revenue
for the quarter ended March 31, 2003 increased to $6.4 million  compared to $4.8
million  for the  quarter  ended  March 31,  2002.  iPIX's  focus on  generating
recurring revenues and operating efficiencies led to gross margins of 67% in the
quarter ended March 31, 2003, compared to 56% in the first quarter of 2002. iPIX
recorded $0.4 million of net income in the first quarter of 2003,  compared to a
net loss of $1.5 million in the first quarter of 2002.  First quarter 2003 fully
diluted  earnings per share was $0.02,  compared to a loss per share of $0.22 in
the comparable year-ago quarter.


"I am pleased that we have now been profitable for three consecutive  quarters,"
said Don Strickland,  iPIX CEO and president.  "This reflects the value we bring
to our customers and  operational  efficiencies  due to economies of scale.  Our
focus will continue to be on profitability."


"We ended the quarter with $6.1  million of total cash," said Paul Farmer,  iPIX
CFO.  "During the quarter we generated $2.7 million of cash from  operations and
spent $0.3 million on computer  hardware and software and $0.7 million on paying
capital lease  obligations.  In addition,  $1.6 million of  restricted  cash was
utilized for payments made against December 31, 2002 accruals."

For  additional  information,  please refer to the filings made by iPIX with the
Securities and Exchange Commission.

About iPIX

Internet  Pictures  Corporation  (iPIX(R))  provides   mission-critical  imaging
solutions for commerce,  communication and security applications.  The Company's
solutions  create,  process and manage a rich variety of media  including  still
images,  360-degree by 360-degree immersive images,  video, text and audio. iPIX
is the largest  online image  management and  distribution  company in the world
serving over a billion image views and two million image  submissions  daily for
customers  such as  eBay(R),  Homestore(tm)  and Los  Angeles  Times(R).  IPIX's
extensive  intellectual property covers patents for immersive imaging, video and
surveillance applications. The Company is headquartered in Oak Ridge, Tennessee,
with co-headquarters in San Ramon, California. www.ipix.com

<PAGE>

Internet Pictures and iPIX are trademarks and service marks of Internet Pictures
Corporation.  All other  copyrights and trademarks  remain the property of their
respective owners.

This press release contains  forward-looking  information  within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934,  and is subject to the safe harbors under those  sections.
In some cases, you can identify  forward-looking  statements by terminology such
as "expect," "believe," "may," "will," "plans" and "anticipate," or the negative
of such terms or comparable  terminology.  Forward-looking  statements appearing
herein include statements concerning operating and profitability plans and goals
and restructuring efforts, and are based on current expectations. Actual results
may differ  materially  from those projected in the  forward-looking  statements
based  upon a  number  of  factors  including  (i) the loss of  existing,  or an
inability  to attract  new iPIX  customers  (ii)  changes in the demand for iPIX
products and services,  (iii)  technological  changes and (iv) general economic,
financial or market changes or developments. The matters discussed in this press
release  also involve  risks and  uncertainties  described  from time to time in
Internet  Pictures  Corporation's  filings  with  the  Securities  and  Exchange
Commission. In particular,  see "Risk Factors" in the Company's annual report on
Form 10-K filed with the SEC on March 31, 2003 (www.sec.gov).

<PAGE>


                          INTERNET PICTURES CORPORATION
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                                                   Three months ended March 31,
                                                   ----------------------------
                                                      2002              2003
                                                   ---------          ---------
                                                            (unaudited)
(In thousands, except per share data)

Revenue:
Transaction services..........................     $  3,575           $  5,602
Immersive still solutions ....................        1,219               784
Immersive video solutions.....................           --                 5
                                                   ---------          ---------
         Total revenues.......................        4,794              6,391
                                                   ---------          ---------
Cost of revenues:

Transaction services..........................        1,669              1,782
Immersive still solutions.....................          455                338
Immersive video solutions.....................           --                  4
                                                   ---------          ---------
         Total cost of revenues...............        2,124              2,124
                                                   ---------          ---------
         Gross profit.........................        2,670              4,267
                                                   ---------          ---------
Operating expenses:

Sales and marketing...........................        2,040              1,761
Research and development......................        1,281              1,260
General and administrative....................          904                829
                                                   ---------          ---------
         Total operating expenses.............        4,225              3,850
                                                   ---------          ---------

Income (loss) from operations.................       (1,555)               417

Interest expense..............................          (17)               (64)
Interest income...............................           55                 21
Other ........................................            5                 (6)
                                                   ---------          ---------
Net income (loss).............................     $ (1,512)          $    368
                                                   =========          =========
Net income (loss) per common share:
  Basic.......................................     $  (0.22)          $   0.05
  Diluted.....................................     $  (0.22)          $   0.02
-------------------------------------------------------------------------------


<PAGE>


                          INTERNET PICTURES CORPORATION
                            CONDENSED BALANCE SHEETS

                                                       December 31,   March 31,
                                                     ---------------------------
                                                          2002          2003
                                                      -------------  -----------
                                                           (1)       (unaudited)

(In thousands)

ASSETS

Cash and cash equivalents............................   $   3,020     $   4,729
Restricted cash and short term investments...........       2,972         1,400
Accounts receivable, net.............................       3,535         2,195
Inventory, net.......................................         181           227
Prepaid expenses and other current assets............         984         1,250
                                                      -------------  -----------

         Total current assets........................      10,692         9,801

Computer hardware, software and other, net...........       4,631         4,412
Other long term assets...............................          70            31
Goodwill ............................................       3,042         3,042
                                                      -------------  -----------
         Total assets................................   $  18,435     $  17,286
                                                      =============  ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:

Accounts payable.....................................   $     360     $     996
Accrued liabilities..................................       5,426         3,996
Deferred revenue.....................................          85           122
Current portion of obligations under capital leases..       2,403         2,259
                                                      -------------  -----------

         Total current liabilities...................       8,274         7,373

Obligations under capital leases,
  net of current portion                                    1,459           918

Other long term liabilities..........................         310           230

STOCKHOLDERS' EQUITY:

Preferred stock .....................................           1             1
Common stock ........................................          65            65
Class B common stock ................................          --            --
Additional paid-in capital...........................     513,937       513,937
Accumulated deficit..................................    (505,117)     (504,749)
Accumulated other comprehensive loss.................        (494)         (489)
                                                      -------------  -----------

         Total stockholders' equity..................        8,392       8,765
                                                      -------------  -----------

         Total liabilities and stockholders' equity..   $  18,435     $  17,286
                                                      =============  ===========

(1) The December  31, 2002  balances  were  derived  from the audited  financial
    statements.
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SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported): April 30, 2003

                          INTERNET PICTURES CORPORATION
                          -----------------------------
             (Exact name of registrant as specified in its charter)

                          DELAWARE 000-26363 52-2213841
                    (State or other (Commission (IRS Employer
       jurisdiction of incorporation) File Number) Identification Number)

3160 Crow canyon road, san ramon, california                        94583
--------------------------------------------------------------------------------
(Address of principal executive offices)                          (Zip Code)

Registrant's telephone number, including area code:            (925) 242-4002
---------------------------------------------------            ---------------

                                       N/A
  -----------------------------------------------------------------------------
          (Former name or former address, if changed since last report)
ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
        INFORMATION AND EXHIBITS.

   (c)  Exhibits

Exhibit
Number                              Description
-------                         -------------------
99.1                       Press Release dated April 30, 2003

ITEM 9:  REGULATION FD DISCLOSURE
The  information  contained  in this  Item 9 of this  Current  Report  is  being
furnished  pursuant to "Item 12. Results of Operations and Financial  Condition"
of Form 8-K in accordance  with SEC Release Nos.  33-8216;  34-47583  (March 27,
2003).

The  information  in this  Current  Report is being  furnished  and shall not be
deemed "filed" for the purposes of Section 18 of the Securities  Exchange Act of
1934, as amended,  or otherwise subject to the liabilities of that Section.  The
information in this Current Report shall not be  incorporated  by reference into
any registration  statement or other document  pursuant to the Securities Act of
1933, as amended.

On  April  30,  2003,  Internet  Pictures  Corporation  issued  a press  release
announcing its financial results for the quarter ended March 31, 2003. A copy of
the press release is attached hereto as Exhibit 99.1 and is incorporated  herein
by reference.
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 hereunto duly authorized.

INTERNET PICTURES CORPORATION

Dated:  April 30, 2003             /s/Don Strickland
                                   ---------------------------------
                                   Don Strickland
                                   President and Chief Executive Officer
Exhibit Index

Exhibit
Number                            Description
------                     --------------------------
99.1                   Press Release dated April 30, 2003
Exhibit 99.1

                                                                    IR Contact:
                                                                   ------------
                                                                    Paul Farmer
                                                                (925) 242- 4002
                                                           paul.farmer@ipix.com

                   iPIX REPORTS RESULTS FOR first quarter 2003
                      Third consecutive profitable quarter

OAK RIDGE,  TN/SAN RAMON,  CA - April 30, 2003 - Internet  Pictures  Corporation
(Nasdaq:  IPIX; "iPIX") announces first quarter 2003 highlights:

     o Revenues 33% higher than prior year

     o Gross margins 67%

     o Net income of $0.4 million

First Quarter Financial Results (See attachments)

iPIX, the global leader in mission critical imaging  solutions,  today announced
financial  results for the quarter ended March 31, 2003.  iPIX reported  revenue
for the quarter ended March 31, 2003 increased to $6.4 million  compared to $4.8
million  for the  quarter  ended  March 31,  2002.  iPIX's  focus on  generating
recurring revenues and operating efficiencies led to gross margins of 67% in the
quarter ended March 31, 2003, compared to 56% in the first quarter of 2002. iPIX
recorded $0.4 million of net income in the first quarter of 2003,  compared to a
net loss of $1.5 million in the first quarter of 2002.  First quarter 2003 fully
diluted  earnings per share was $0.02,  compared to a loss per share of $0.22 in
the comparable year-ago quarter.

"I am pleased that we have now been profitable for three consecutive  quarters,"
said Don Strickland,  iPIX CEO and president.  "This reflects the value we bring
to our customers and  operational  efficiencies  due to economies of scale.  Our
focus will continue to be on profitability."

"We ended the quarter with $6.1  million of total cash," said Paul Farmer,  iPIX
CFO.  "During the quarter we generated $2.7 million of cash from  operations and
spent $0.3 million on computer  hardware and software and $0.7 million on paying
capital lease  obligations.  In addition,  $1.6 million of  restricted  cash was
utilized for payments made against December 31, 2002 accruals."

For  additional  information,  please refer to the filings made by iPIX with the
Securities and Exchange Commission.

About iPIX

Internet  Pictures  Corporation  (iPIX(R))  provides   mission-critical  imaging
solutions for commerce,  communication and security applications.  The Company's
solutions  create,  process and manage a rich variety of media  including  still
images,  360-degree by 360-degree immersive images,  video, text and audio. iPIX
is the largest  online image  management and  distribution  company in the world
serving over a billion image views and two million image  submissions  daily for
customers  such as  eBay(R),  Homestore(tm)  and Los  Angeles  Times(R).  IPIX's
extensive  intellectual property covers patents for immersive imaging, video and
surveillance applications. The Company is headquartered in Oak Ridge, Tennessee,
with co-headquarters in San Ramon, California. www.ipix.com
Internet Pictures and iPIX are trademarks and service marks of Internet Pictures
Corporation.  All other  copyrights and trademarks  remain the property of their
respective owners.

This press release contains  forward-looking  information  within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934,  and is subject to the safe harbors under those  sections.
In some cases, you can identify  forward-looking  statements by terminology such
as "expect," "believe," "may," "will," "plans" and "anticipate," or the negative
of such terms or comparable  terminology.  Forward-looking  statements appearing
herein include statements concerning operating and profitability plans and goals
and restructuring efforts, and are based on current expectations. Actual results
may differ  materially  from those projected in the  forward-looking  statements
based  upon a  number  of  factors  including  (i) the loss of  existing,  or an
inability  to attract  new iPIX  customers  (ii)  changes in the demand for iPIX
products and services,  (iii)  technological  changes and (iv) general economic,
financial or market changes or developments. The matters discussed in this press
release  also involve  risks and  uncertainties  described  from time to time in
Internet  Pictures  Corporation's  filings  with  the  Securities  and  Exchange
Commission. In particular,  see "Risk Factors" in the Company's annual report on
Form 10-K filed with the SEC on March 31, 2003 (www.sec.gov).
INTERNET PICTURES CORPORATION
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                                                   Three months ended March 31,
                                                   ----------------------------
                                                      2002              2003
                                                   ---------          ---------
                                                            (unaudited)
(In thousands, except per share data)

Revenue:
Transaction services..........................     $  3,575           $  5,602
Immersive still solutions ....................        1,219               784
Immersive video solutions.....................           --                 5
                                                   ---------          ---------
         Total revenues.......................        4,794              6,391
                                                   ---------          ---------
Cost of revenues:

Transaction services..........................        1,669              1,782
Immersive still solutions.....................          455                338
Immersive video solutions.....................           --                  4
                                                   ---------          ---------
         Total cost of revenues...............        2,124              2,124
                                                   ---------          ---------
         Gross profit.........................        2,670              4,267
                                                   ---------          ---------
Operating expenses:

Sales and marketing...........................        2,040              1,761
Research and development......................        1,281              1,260
General and administrative....................          904                829
                                                   ---------          ---------
         Total operating expenses.............        4,225              3,850
                                                   ---------          ---------

Income (loss) from operations.................       (1,555)               417

Interest expense..............................          (17)               (64)
Interest income...............................           55                 21
Other ........................................            5                 (6)
                                                   ---------          ---------
Net income (loss).............................     $ (1,512)          $    368
                                                   =========          =========
Net income (loss) per common share:
  Basic.......................................     $  (0.22)          $   0.05
  Diluted.....................................     $  (0.22)          $   0.02
-------------------------------------------------------------------------------
INTERNET PICTURES CORPORATION
                            CONDENSED BALANCE SHEETS

                                                       December 31,   March 31,
                                                     ---------------------------
                                                          2002          2003
                                                      -------------  -----------
                                                           (1)       (unaudited)

(In thousands)

ASSETS

Cash and cash equivalents............................   $   3,020     $   4,729
Restricted cash and short term investments...........       2,972         1,400
Accounts receivable, net.............................       3,535         2,195
Inventory, net.......................................         181           227
Prepaid expenses and other current assets............         984         1,250
                                                      -------------  -----------

         Total current assets........................      10,692         9,801

Computer hardware, software and other, net...........       4,631         4,412
Other long term assets...............................          70            31
Goodwill ............................................       3,042         3,042
                                                      -------------  -----------
         Total assets................................   $  18,435     $  17,286
                                                      =============  ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:

Accounts payable.....................................   $     360     $     996
Accrued liabilities..................................       5,426         3,996
Deferred revenue.....................................          85           122
Current portion of obligations under capital leases..       2,403         2,259
                                                      -------------  -----------

         Total current liabilities...................       8,274         7,373

Obligations under capital leases,
  net of current portion                                    1,459           918

Other long term liabilities..........................         310           230

STOCKHOLDERS' EQUITY:

Preferred stock .....................................           1             1
Common stock ........................................          65            65
Class B common stock ................................          --            --
Additional paid-in capital...........................     513,937       513,937
Accumulated deficit..................................    (505,117)     (504,749)
Accumulated other comprehensive loss.................        (494)         (489)
                                                      -------------  -----------

         Total stockholders' equity..................        8,392       8,765
                                                      -------------  -----------

         Total liabilities and stockholders' equity..   $  18,435     $  17,286
                                                      =============  ===========

(1) The December  31, 2002  balances  were  derived  from the audited  financial
    statements.