Arbitron Raises Revenue, Lowers Costs

Radio ratings firm Arbitron has reported third quarter results, with year-on-year revenue up 6.1% to $105.6 million and EBITDA of $33.6m, up from $25.4m the previous year.

Costs for the quarter, which ended on September 30, fell a fraction to $77.2m from $78.6m a year previously, while diluted EPS (earnings per share) were $0.55 ($0.42 in Q3 2010). Net income was $15.4m, up from $11.3m.

The revenue increase reflects the continuing expansion of markets for the PPM, and the continued phase-in of contracted PPM price increases.

For the nine months of the year so far, revenue was up 6.5% to $302.2m and EBITDA $87.2m, up 29.2%; net income jumped from $28.9m to $39.2m and EPS rose from $1.07 to $1.42.

President and CEO Bill Kerr said the firm was continuing to make 'promising steps' in establishing itself in the market for cross-platform services, while maintaining and improving the quality of its radio ratings services.

Revenue and earnings per share guidance for 2011 is unchanged with revenue expected to rise between 6 and 8% and anticipated diluted EPS of between $1.90 and $2.05.

The company is on the web at www.arbitron.com .