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Arbitron Sales Up, Net Income Down
Arbitron has announced first quarter results for the three months ended March 31st, showing that revenues increased by 7.4% to US$85.1 million. Net income for the quarter fell by 8.3% to US$18.2 million.
President and CEO Stephen Morris underlined the fact that the company met its revenue expectations and exceeded earnings guidance in the first quarter. 'In March' Morris went on, 'Arbitron made the commitment to roll out the Portable People Meter as our radio ratings service in the top 50 markets in the United States. Pending accreditation by the Media Rating Council, Houston will become the first radio market to be electronically measured, as early as July 2006. We continue to work with our radio customers to facilitate the adoption of electronic measurement by broadcasters as well as by advertisers and agencies. We are also working with VNU and the six advertisers who are the pilot subscribers to the Project Apollo pilot panel to demonstrate the value of our proposed service for media planning, media mix allocation and return on media investment.'
Arbitron also provided financial guidance on its earnings outlook for the second quarter 2006 and for the full year 2006. For the second quarter, the company expects revenue to increase between 6% and 8%. Earnings per share (diluted) for the second quarter is expected to be between US$0.20 and US$0.22 versus US$0.48 in the second quarter 2005.
Arbitron's year-end 2006 revenue guidance is unchanged and revenue is expected to increase between 6% and 8%. Earnings per share (diluted) for the year ending December 31, 2006 is expected to be between US$1.69 and US$1.74, an increase from the previously issued guidance of US$1.65 to US$1.70. The increase reflects the impact of lower share-based compensation expense.
Arbitron is online at www.arbitron.com .
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