Arbitron Q4, 2005 Revenue, Earnings Rise
January 24, 2006 at 6:30 AM (PT)
ARBITRON fourth quarter revenues rose 3.3% year-to-year to $75.3 million, with EBIT up 0.4% to $17 million and net income up 16.2% to $11.2 million (36 cents/diluted share). Year-end revenue rose 4.5% to $310 million, with EBIT up 3% to $101.4 million and net income up from $1.92 to $2.14 per diluted share (with a $4.7 million one-time tax benefit increasing 2005's earnings, which would have been $1.99/diluted share without the tax break). The company noted increased expenses related to the PPM test in HOUSTON and PROJECT APOLLO.
For first quarter, ARBITRON expects revenue to rise 6-8% and earnings per diluted share in the 50-52 cents range. Full year revenues are exoected to increase 6-8% with earnings per diluted share in the $1.65-$1.75 range.
The company also announced that its board has authorized an up to $70 million stock buyback program, effective through DECEMBER 31.