Arbitron Net Income Up For Q4, 2010
March 2, 2011 at 5:48 AM (PT)
ARBITRON has released financial results for the fourth quarter and full year ended DECEMBER 31, 2010.
Net income for Q4 was $15.6 million compared with $12.6 million for the fourth quarter of 2009. Earnings per share (diluted) for the fourth quarter 2010 were $0.57, an increase of 21.3%, compared with $0.47 per share (diluted) for the fourth quarter of 2009.
As reported last year, net income for the fourth quarter of 2009 included a one-time tax benefit of $4.7 million, or $0.17 per share (diluted), related to a favorable state tax ruling received by the Company during that quarter.
Net income for the full year 2010 increased to $44.5 million compared with $42.2 million in 2009. Earnings per share (diluted) for the full year 2010 were $1.64, an increase of 3.8%, compared with $1.58 per share (diluted) in 2009.
Excluding the 2009 fourth quarter tax benefit from the fourth quarter and full year 2009 results, earnings per share (diluted) increased 90% in the fourth quarter of 2010 and 16% for the full year 2010.
Pres./CEO WILLIAM T. KERR said, "In 2010, we accomplished many of the goals that we established for the Company for the year, which I outlined during our fourth quarter earnings call last year, shortly after assuming my role as chief executive officer. Specifically, we completed the scheduled commercialization of the PORTABLE PEOPLE METER radio ratings service, addressed issues and concerns raised by the PPM COALITION and other customers, established the framework to leverage our PPM technology and panel for growth, and continued to enhance and evolve senior management to better position the Company for long-term success. And as we announced in December, we renewed our contract with our largest customer, CLEAR CHANNEL, through DECEMBER of 2016."