Arbitron Reports Year-End And Q4 Financials
February 17, 2009 at 6:06 AM (PT)
ARBITRON INC. TODAY announced results for the fourth quarter and year ended DECEMBER 31st, 2008. Net income for the quarter was $3.4 million, or $0.13 per share (diluted), compared with $3.7 million, or $0.13 per share (diluted) for the fourth quarter of 2007.
For the fourth quarter of 2008, the Company reported revenue of $93.6 million, an increase of 16.8% over revenue of $80.1 million during the fourth quarter of 2007.
Pres./CEO MICHAEL SKARZYNSKI commented, "In the fourth quarter of 2008, we restarted the commercialization of the PORTABLE PEOPLE METER service by bringing electronic measurement to radio in 12 new markets including NEW YORK, LOS ANGELES, CHICAGO, SAN FRANCISCO, DALLAS, ATLANTA, DETROIT and WASHINGTON D.C. With the recent MRC accreditation in RIVERSIDE-SAN BERNARDINO, we continue to make progress in the commercialization of our PPM radio ratings services. We also signed settlement agreements with the NEW YORK and NEW JERSEY Attorneys General and are implementing programs that we believe will further improve our PPM services.
"These are all significant accomplishments that keep our longterm plans to commercialize PPM in radio's largest markets solidly on track.
"We have also strengthened our commitment to continuous improvement in markets of all sizes. We are adding cell-phone-only households to our samples in diary markets and have accelerated the development of electronic and online alternatives to the paper and pencil diary for all markets.
"Our goal is to maintain our leadership position in radio research in markets large and small while helping the radio industry prosper once again in the highly competitive media environment."