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Nielsen Figures Muddied by Sale
The Nielsen Company has announced results for the full year 2006, with pro forma unaudited revenues of $4,174m, up just 2.8% on the previous year, but up 5% at constant currencies, the firm said. Four acquisition-related items totalling c.$316m affected operating income which was down to $212m (2005: $373m).
The one-off items were a $90m deferred revenue adjustment, $75m in restructuring expenses, $98m in increased amortization expense and $53m in costs associated with 'recruiting and other acquisition related compensation'. The previous year's figure was itself hit by $91m in litigation settlement costs and costs relating to the failed acquisition of IMS Health.
The Nielsen Company – then VNU – was acquired by the private Valcon consortium on 23rd May 2006. The pro forma 2006 revenue figure is made up of $1,626m from the Predecessor period (Jan 1-May 23 2006) and $2,548m for the Successor period, and is adjusted to reflect the pro forma effect of the acquisition and related financing as if it had occurred on January 1, 2006.
As of December 31, 2006, total debt was $8 billion, and cash balances were $631m. The firm says it expects to provide its mock 10-K, containing its Management's Discussion and Analysis, on or before May 2. Nielsen is headquartered in Haarlem, the Netherlands, and New York, USA, and employs nearly 41,000 people. It is online at www.nielsen.com .
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