Arbitron Reports 2011 First Quarter Financial Results

Arbitron ARB today announced results for the first quarter ended March 31, 2011. Net income for the quarter increased 18.2 percent to $16.2 million, or $0.59 per share (diluted), compared with $13.7 million, or $0.51 per share (diluted), for the first quarter of 2010. For the first quarter of 2011, the Company reported revenue of $100.9 million, an increase of 5.2 percent compared to revenue of $95.9 million during the first quarter of 2010. Revenue for the quarter benefited from the commercialization of the Portable People Meter™ (PPM™) ratings service in 15 markets in the second half of 2010, which completed the Company's 48-market PPM commercialization plan, and from the ongoing transition to PPM service pricing. Costs and expenses for the first quarter 2011 increased by 1.5 percent, to $71.8 million from $70.7 million in the first quarter 2010. The incremental costs compared to last year related to the Portable People Meter markets commercialized in the second half of 2010, partially offset by the elimination of costs associated with operating the diary service in those markets. Operating income in the first quarter 2011 increased 15.5 percent, to $29.1 million from $25.2 million in the first quarter 2010.