PPM Takes A Toll On Arbitron's Q4 Profit
February 14, 2008 at 10:27 AM (PT)
ARBITRON INC. said THURSDAY fourth-quarter earnings fell 25%, as costs related to its PORTABLE PEOPLE METER rose sharply. Net income declined to $3.7 million, or 13 cents per share, from $4.9 million, or 17 cents per share, in the year-ago period. The result beat analysts' expectations for 9 cents per share, according to THOMSON FINANCIAL.
Revenue rose 5% to $80.1 million from $76 million last year. WALL STREET expected about $84 million.
Spending to implement the PPM, pushed costs 10% higher to $79.9 million.
For the year, profit dropped 21% to $40.2 million, or $1.35 per share and revenue rose 6% to $338.5 million.