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NetRatings Turns Profit in Time for Nielsen Buy-Out
NetRatings has released financial results for the fourth quarter and full year 2006. Full year figures show a profit for the first time, with a net income of $2.8m in 2006 vs a loss of $8.4m in 2005. Revenue rose 20% from $68m in 2005 to $81.8m in 2006.
The online measurement specialist had fourth quarter 2006 revenues of $22m, up 24% from $17.7m in Q4 2005, and net income $99,000 ($0.00 per share) from a net loss in Q4 2005 of $713,000 ($0.02 per share). Pro forma EBITDA earnings for Q4 were $3.3m, or $0.09 per share, compared to $779,000 in Q4 2005, while full year EBITDA improved from a loss of $1.2m in 2005 to earnings of $10.1m, or $0.29 per share, in 2006.
The statement shows Q4 expenses of $778,000 relating to the pending acquisition of the remainder of its shares by The Nielsen Company. NetRatings' board of directors unanimously approved an offer of $21.00 in cash per share for the remaining 40% not already held by Nielsen, on February 5th this year. The merger is expected to be completed in the second quarter of 2007, subject to customary conditions and approvals.
The company is online at www.netratings.com .
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