Arbitron Revenues Rise In Third Quarter 2012
October 24, 2012 at 4:25 AM (PT)
ARBITRON third-quarter revenue rose 8.3% to $114.3 million, credited to the nearly completed phase-in of price increases for PPM service and other contractual price increases. Net income increased from $15.4 million (55 cents/diluted share) to $15.8 million (59 cents/diluted share), a 7.3% increase per share; the 2012 numbers included a 2 cents/diluted share pre-tax, non-cash charge related to an impairment taken on certain internal-use software. EBITDA fell 0.2% to $33.5 million, attributed to the impairment charge
Pres./CEO WILLIAM T. KERR said, "In the third quarter, we announced that ARBITRON and comSCORE will work together on a groundbreaking cross-platform initiative for ESPN.
"We are working to integrate census-level data from PCs, mobile devices, and television set-top boxes with the personal, passive and single-source measurement capabilities of our PPM technology. We plan to track and report the consumption of video, audio and display content across radio, television, PCs, smartphones, and tablets. Our goal is a new methodology that the media and marketing industry can embrace as the template for the future of cross-platform measurement.
"This initiative is a strong validation of our strategy for cross-platform, and is a direct outcome of the pioneering work ARBITRON delivered in our cross-platform pilot for the COALITION FOR INNOVATIVE MEDIA MEASUREMENT (CIMM).
"Also in the third quarter, we continued to grow our revenue and earnings as we maintained our investments in the value and utility of our core services and continued to invest in the opportunities presented by the emerging markets of mobile and cross-platform."
The company is reiterating its revenue and earnings per share guidance for 2012, with revenue projected to increase 5-7% and earnings per diluted share to increase 8-15% to between $2.15 and $2.30.