Arbitron Net Income, Revs Up For Q2
July 21, 2009 at 4:39 AM (PT)
ARBITRON has announced financial results for the second quarter ended JUNE 30th, 2009.
Net income for the quarter was $3.5 million or $0.13 per share (diluted), compared with $600 thousand or $0.02 per share (diluted) for the second quarter of 2008.
For Q2, the Company reported revenues of $86.8 million, an increase of 10.4% over revenue of $78.7 million during the second quarter of 2008. As anticipated, revenue growth in the quarter benefited from the Company's commercialization of its PORTABLE PEOPLE METER ratings service in BOSTON as well as the recognition of pre-currency revenue in five new PPM markets -- MIAMI-FT. LAUDERDALE-HOLLYWOOD, SEATTLE-TACOMA, PHOENIX, MINNEAPOLIS-ST. PAUL and SAN DIEGO.
"In the second quarter of 2009, ARBITRON commercialized the PORTABLE PEOPLE METER radio ratings service in BOSTON, and continued the work of building PPM panels for the additional markets we plan to commercialize in 2009," said Pres./CEO MICHAEL SKARZYNSKI. "We signed a three-year agreement with CLEAR CHANNEL RADIO for diary-based radio ratings services in 105 markets. Additionally, ARBITRON signed multi-year diary market agreements with a number of other customers. We also successfully introduced cell phone-only household sampling in an initial 151 diary markets in the SPRING 2009 survey. As a result, we saw significant sample quality gains for young adults, age 18-34, in the first month of the survey."