Arbitron Reports Q1 Financial Results
April 21, 2009 at 7:18 AM (PT)
ARBITRON INC. has announced results for the first quarter ended MARCH 31, 2009. Net income for the quarter was $12.3 million, or $0.46 per share (diluted), compared with $16.3 million, or $0.57 per share (diluted), for the first quarter of 2008.
For the first quarter of 2009, the Company reported revenue of $98.5 million, an increase of 4.7% over revenue of $94.1 million during the first quarter of 2008.
Costs and expenses for the first quarter increased by 19.1%, from $63.3 million in 2008 to $75.4 million in 2009, due to planned expenditures for the Portable People Meter ratings panels, the planned introduction of cell-phone-only household sampling in diary markets and expenses of $8.2 million related principally to severance and benefits for the reorganization and restructuring program announced in MARCH 2009.
Pres./CEO MICHAEL SKARZYNSKI commented, "During the first quarter of 2009, ARBITRON focused its efforts in four areas: customer satisfaction, service quality, cost management and strategic positioning. The recession and decline in the advertising spending for radio remains the number one challenge for our customers, particularly for radio broadcasters. ARBITRON is working hard through our customer satisfaction improvement programs to increase the value and utility of our PPM and diary market services while prioritizing our customer needs and interests in our decision-making."
Ready For A Fight With Nielsen
In a conference call held this morning focused on the company's Q1 financials, ARBITRON Pres./CEO MICHAEL SKARZYNSKI reiterated ARBITRON's committment to diary-only markets, adding "we take seriously NIELSEN's entry into the diary business." He added ARBITRON planned on continuing it's "leadership position" by improving the accuracy in those markets.