Arbitron Reports 2010 Third Quarter Financial Results
October 26, 2010 at 4:26 AM (PT)
ARBITRON has announced results for the third quarter ended SEPTEMBER 30th, 2010.
The Company reported revenue of $99.5 million, an increase of 1.4% as compared to revenue of $98.1 million during the third quarter of 2009. Wrote ARBITRON, "Revenue in the quarter increased due to the commercialization of the PORTABLE PEOPLE METER radio ratings service in 10 additional markets versus the five markets commercialized in the third quarter of 2009. The increase in revenue realized from the ongoing transition to the PPM service in the third quarter was partially offset by a number of previously disclosed factors, including the impact of certain customers who were subscribers in 2009 and who either reduced their level of service in 2010 or did not renew expiring contracts."
Costs and expenses for the third quarter increased by 7.0%, from $73.5 million in 2009 to $78.6 million in 2010.
Earnings before interest, income tax expense, depreciation and amortization (EBITDA) for the quarter was $25.4 million, a decrease of 11.7% compared with EBITDA of $28.7 million for the third quarter of 2009.
ARBITRON Pres./CEO WILLIAM T. KERR commented, "In the third quarter, the radio advertising marketplace continued its recovery from the severe advertising recession of 2009. At the same time, radio broadcasters remain cautious in this still-uncertain economic environment. This uncertainty has kept some of our customers on the sidelines in terms of discretionary services and contract renewals."