Arbitron Sez PPMs Help Boost Revenue

Arbitron Inc. Thursday announced results for the second quarter ended June 30, 2011.

The Company reported revenue of $95.7 million, an increase of 8.4 percent as compared to revenue of $88.3 million during the second quarter of 2010.  The revenue increase was due primarily to the commercialization of the Portable People Meter™ (PPM™) radio ratings service in the final 15 markets in the second half of 2010, the continued phase-in of contracted PPM price increases and the PPM ratings contract signed with Univision in November 2010.

Costs and expenses for the second quarter increased by 1.1 percent, from $87.7 million in 2010 to $88.7 million in 2011.

For the second quarter of 2011, net income was $7.6 million, an increase of 99.6 percent compared with $3.8 million for the second quarter of 2010.  Earnings per share (diluted) was $0.27 for the quarter versus $0.14 for the second quarter of 2010.

Earnings before interest, income tax expense, depreciation and amortization (EBITDA) for the quarter was $19.7 million, an increase of 52.5 percent compared with EBITDA of $12.9 million for the second quarter of 2010.  EBITDA margin for the second quarter increased from 14.6 percent to 20.6 percent.

For the six months ended June 30, 2011, revenue was $196.6 million, an increase of 6.7 percent versus revenue of $184.2 million for the same period in 2010.

Costs and expenses for the six months ended June 30, 2011 increased by 1.3 percent, from $158.4 million to $160.5 million.

Net income for the first six months of 2011 increased 35.8 percent to $23.8 million compared with $17.5 million in 2010. Earnings per share (diluted) for the first six months of 2011 was $0.86 compared with $0.65 for the first six months of 2010.

EBITDA increased 27.3 percent from $42.1 million in the first six months of 2010 to $53.6 million for the same period in 2011, with EBITDA margins of 22.9 percent and 27.3 percent, respectively.