Second Quarter Results at Arbitron

Arbitron results for the quarter ended June 30, 2002 show an increase of 12.4% in revenue terms to USD56.5 million compared with USD50.3 million during the second quarter of 2001.

Earnings before interest and taxes (EBIT) for the quarter were USD15.0 million, compared with EBIT of USD12.8 million during the comparable period last year. Net income for the quarter was USD6.6 million, compared with USD4.7 million for the second quarter of 2001.

For the six months ended June 30, 2002, revenue was USD122.4 million, an increase of 10.8% over the same period last year. EBIT was USD42.6 million, compared to USD40.1 million in 2001. Net income for the six months was USD20.9 million compared with USD21.0 million last year.

Commenting on the results for the second quarter, Stephen Morris, president and chief executive officer of Arbitron said, 'Arbitron continues to perform well, despite a difficult economic environment. Our revenue, EBIT and net earnings growth in the second quarter is a reflection of the good performance of our core ratings business and our recent acquisition of RADAR. While we expect the general business climate to remain challenging throughout the year, we enter the second half of 2002 with strong fundamentals, a stable and growing core business and exceptional opportunities in new markets such as Latin America. As a result, we remain on track to meet our previously provided guidance for 2002. As we continue to make progress in our ongoing market trial of the Portable People Meter, and in our joint venture discussions with Nielsen Media Research, we will be better able to articulate the value proposition for the new ratings service. This will allow us to give our customers the additional information they have requested in our continuing discussions for the long-term renewals of their ratings contracts.'

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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