Nielsen Reports Financial Results For First Quarter

Q1 Numbers

NIELSEN HOLDINGS PLC first-quarter revenues fell 2.9% year-to-year to $1.563 billion, but rose 0.4% on a constant currency basis.  Net income slipped 40.3% to $43 million (down 33.8% on a constant currency basis), blamed on "higher restructuring charges, higher depreciation and amortization and the phasing of strategic initiatives;" net income per diluted share fell from 20 to 12 cents, while adjusted earnings per share fell from 40 to 35 cents.  Adjusted EBITDA was off 1.9% to $415 million (up 0.5% on a constant currency basis).

NIELSEN Global Media segment revenues increased 0.2% to $826 million (1.3% on a constant currency basis). The Audience Measurement segment also increased 1.5% (2.2% on a constant currency basis), credited to growth in adoption of the Total Audience Measurement system, partly offset by local television measurement.  Plan/Optimize division revenues decreased 3.1% (0.9% on a constant currency basis), but excluding the impact of acquisitions and one-time items, the division's revenues were flat on a constant currency basis.  The Global Connect segment saw revenues fall 6.2% to $737 million (0.7% on a constant currency basis), while the Measure segment dropped 4.3% (up 1.7% on a constant currency basis) and Predict/Activate revenues decreased 11.2% (6.6% on a constant currency basis).

CEO DAVID KENNY said, "Our first-quarter results were ahead of our expectations, reflecting solid execution and continued focus on improving operational and financial rigor across NIELSEN. While I'm pleased with our first-quarter results, we have a significant opportunity to accelerate our growth rate over time as we leverage and build on our incomparable data assets, our global footprint, and the critical role we play in the media and FMCG industries. We have begun our transformation into a truly product-driven, technology organization, able to make faster, bolder decisions that drive greater value for our clients and for NIELSEN."The strategic review is ongoing and the Board is focused on completing the process in as timely a manner as possible. We remain focused on executing on our growth strategy, and we're taking the right steps to position the company for both near and long-term success in order to maximize value for all of our shareholders."

The company's Board of Directors has approved a quarterly cash dividend of $0.35 per common share, payable JUNE 19th to shareholders of record on JUNE 5th.

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