Arbitron Reports 2012 First Quarter Net Income Up 9.6%
April 19, 2012 at 4:27 AM (PT)
ARBITRON has announced financial results for the first quarter ended MARCH 31st, 2012.
Net income for the quarter increased 9.6% to $17.8 million, or $0.64 per share (diluted), compared with $16.2 million, or $0.59 per share (diluted), for the first quarter of 2011.
For the first quarter of 2012, the Company reported revenue of $106.4 million, an increase of 5.5% compared to revenue of $100.9 million during the first quarter of 2011. Revenue for the quarter benefited primarily from annual rate increases, including the continued phase-in of contracted price increases for the Company's PORTABLE PEOPLE METER service.
Costs and expenses for the first quarter 2012 increased by 4.7% to $75.2 million from $71.8 million in the first quarter 2011. Approximately $2.8 million of the increase was due to costs associated with ARBITRON MOBILE, which was acquired in JULY 2011, and to planned incremental investments in cross-platform initiatives. The net pre-tax investment during the first quarter of 2012 in cross platform initiatives and ARBITRON MOBILE, was $3.0 million, compared to $1.0 million in the first quarter last year.
Operating income in the first quarter 2012 increased 7.4%, to $31.2 million from $29.1 million in the first quarter 2011.
EBIT for the first quarter 2012 was $28.9 million, an increase of 8.7% compared with EBIT of $26.6 million for the first quarter of 2011. The Company's EBIT margin for the first quarter 2012 increased to 27.1% from 26.3 percent in the first quarter of 2011.
EBITDA was $36.6 million in the first quarter of 2012, an increase of 8.1% compared with EBITDA of $33.9 million in the first quarter of 2011. The Company's EBITDA margin for the first quarter 2012 increased to 34.4% from 33.6% in the first quarter of 2011.
Pres./CEO WILLIAM T. KERR said, "Our results and our activities in the first quarter are well aligned with our long-standing priorities for enhancing our core services and for generating revenue growth. We unveiled our marketing mix modeling service at the recent ADVERTISING RESEARCH FOUNDATION convention. We expect to have the complete service up, running and ready to improve radio's visibility among the top agency media planners by the middle of the summer.
"Digital radio remains a key priority as we continue our work to follow radio onto its new digital platforms in order to quantify this growing audience segment thereby enabling customers to monetize it," KERR continued. "Our cross-platform initiatives continue to demonstrate the value that our unique personal, passive and portable measurement technologies can bring to this emerging marketplace. Finally, with the launch of a new, syndicated mobile measurement panel, ARBITRON MOBILE is moving to expand its footprint here in the UNITED STATES."