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Arbitron Ups Guidance
Arbitron has revised its financial guidance for the full year 2005. It now expects net income to be between $62.7m and $64.0m for the calendar year, up $3.9m on previous estimates following a tax audit.
The previous income estimate was $58.7m - $60.0m. Earnings Per Share (diluted) for the year are now expected to be between $1.99 and $2.03, compared to the previous estimate of $1.87 to $1.91. The improvement reflects the reversal of certain tax contingencies following an income tax audit. The effective tax rate for 2005, exclusive of this discrete event, remains at 38.5%.
Annual guidance for Earnings Before Interest & Taxes (EBIT) and Revenue for 2005 is unchanged. Arbitron also expects Q2 Earnings Per Share (diluted) to be between $0.43 and $0.45, up 15 cents, due to the tax benefit plus some timing differences related to Project Apollo and other research and development projects. The company is still predicting revenue to increase between 5.5% and 7.5% compared to Q2 2004. Arbitron's web site is at www.arbitron.com
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