Arbitron Reports Q3 Revs Down
October 20, 2009 at 4:27 AM (PT)
ARBITRON has announced financial results for Q3, ended SEPTEMBER 30th. Net income for the quarter was $13.7 million or $0.51 per share (diluted), compared with $17.0 million or $0.63 per share (diluted) for the third quarter of 2008.
For the third quarter of 2009, the Company reported revenue of $98.1 million, a decrease of 4.3% over revenue of $102.5 million during Q3 2008.
ARBITRON wrote in a release, "Lower revenue during the current quarter compared to the third quarter of last year is largely the result of several previously disclosed factors, including: the impact of a decision by CUMULUS and CLEAR CHANNEL to subscribe to a competitor's diary-based radio ratings service in a limited number of small and medium sized markets, beginning with the SPRING 2009 survey period; the impact of UNIVISION electing not to subscribe to the PORTABLE PEOPLE METER service in certain markets; and the continued impact of the advertising recession on renewals and new business."
"In the third quarter of 2009, ARBITRON commercialized the PORTABLE PEOPLE METER radio ratings service in TAMPA-ST. PETERSBURG-CLEARWATER, ST. LOUIS, DENVER-BOULDER, BALTIMORE and PITTSBURGH, bringing to 25 the total number of PPM markets," said Pres./CEO MICHAEL SKARZYNSKI. "In addition, we have built out the PPM panels and begun the pre-currency surveys for the eight additional PPM markets that we plan to commercialize in DECEMBER 2009."