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Arbitron Q1 Results 'On Track'
Audience measurement specialist Arbitron Inc. has announced results for the first quarter of 2005, 'on track despite a challenging economic environment' for its customers. Revenue of $79.2m is up 3.4% on the same period last year.
Costs and expenses for the first quarter increased by 2.4%, from $43.4m in 2004 to $44.4m in 2005. Earnings before interest and income tax expense (EBIT) for the quarter were $32.7m, up 2.5% over Q1 2004. Interest expense for the quarter declined 56.7%, from $2.4m $1.1m in 2005, due to reductions in the Company's long-term debt. Net income for the quarter was up 9.6% vs last year to $19.8m, and net income per share up 10.5% to $0.63 (diluted).
President and CEO Stephen Morris says the company is 'starting the year on track despite a continued challenging economic environment for our largest customer segments - radio and advertising agencies'.
For the second quarter 2005, Arbitron expects revenue to increase between 5.5% and 7.5% compared to the second quarter of last year. The company is updating its financial guidance for the full year 2005 following a ruling by the Securities and Exchange Commission last week which amends the compliance date for expensing stock options.
Arbitron has approximately 1,700 employees, and its executive offices are located in New York City. Further detail, which should be consulted before basing any decisions on the above, is available on the Arbitron news page at www.onlinepressroom.net/arbitron .
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