Increase in Annual Revenues at Arbitron

US agency Arbitron has announced results for the year ended December 31, 2002, showing a 9% increase in turnover to $249.8 million.

EBIT was $85.7 million, compared to $75.5 million in 2001, an increase of 13.5% for the year. Net income for the year was $42.8 million or $1.42 per share (diluted), compared with $36.5 million, or $1.24 per share (diluted), last year.

For the fourth quarter, Arbitron reported a 12.3% increase in revenues to $57.8 million whilst net income reached $6.5 million compared with $2.6 million for the year earlier period.

Commenting on the results for the fourth quarter, Stephen Morris, president and chief executive officer of Arbitron, said, 'We ended 2002 by meeting our financial goals for revenue and profitability, a good performance in a difficult year for the media industry. Our basic ratings, Scarborough and software services all made good progress in the quarter. In the fourth quarter, our RADAR network radio measurement service expanded its roster of clients while staying on track in its transition to a more efficient and more effective sampling system. Our acquisition of a license to the Measurecast Webcast ratings technology, also in the fourth quarter, should allow us to maintain a leadership position in the webcast ratings arena while keeping a tighter grip on costs. Working with Nielsen Media Research, we continue to make progress on the refinements to the Portable People Meter (PPM) that the U.S. ratings marketplace requested. And on our own, we have made solid progress marketing the PPM in the international arena and have broadened our exploration of new applications for this promising technology. Given our progress and the overall strength of the core ratings business, we believe Arbitron remains well positioned to deliver solid growth in revenue and profitability while making measured investments in markets with long-term growth potential.'

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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