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NetRatings Revenues Up 20% as Buy Out Looms
NetRatings has reported revenues of $22 million for the first quarter of 2007, compared with $18.3 million for the same period in 2006.
Gross profit stood at $15.8 million (versus $12.7 million in 2007). Net income was $193,000, which compares with a net loss of $255,000 in the first quarter of 2006. The firm also recorded $1.9 million in acquisition expenses relating to its planned merger with the Nielsen Company.
For Q1 2007, on a pro forma EBITDA basis, the online measurement specialist earned $3.7 million, compared with $1 million in Q1 2006.
In February NetRatings announced that it had signed a merger agreement with The Nielsen Company (www.mrweb.com/drno/news6407.htm ), allowing Nielsen to purchase the outstanding 40% of NetRatings for $21 per share. The merger is expected to be completed in the second quarter of 2007, subject to customary conditions and approvals.
Web sites are at www.netratings.com and www.nielsen.com .
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