Arbitron Says Q4 Revenue Increased 10.0 Percent. Full-Year Rev Up 2.7 percent
Arbitron announced net income for the fourth quarter was $15.6 million compared with $12.6 million for the fourth quarter of 2009. Net income for the full year 2010 increased to $44.5 million compared with $42.2 million in 2009. The Company reported revenue of $111.7 million during the fourth quarter of 2010, an increase of 10.0 percent as compared to revenue of $101.5 million during the fourth quarter of 2009. Revenue in the quarter increased primarily due to the continued commercialization of the Portable People Meter™ (PPM™) radio ratings service.
Costs and expenses for the fourth quarter decreased by 2.8 percent, from $95.3 million in 2009 to $92.7 million in 2010, primarily as a result of cost savings stemming from continued efficiencies in various corporate overhead areas as well as reduced legal expenses compared to last year. These savings offset planned cost increases due to the commercialization of the Portable People Meter radio ratings service in 15 additional markets during 2010. For the full year ended December 31, 2010, revenue was $395.4 million, an increase of 2.7 percent versus revenue of $385.0 million for the same period in 2009.
During 2010, the increase in revenue realized from the ongoing transition to the PPM radio ratings service was partially offset by a number of previously disclosed factors, including the impact of certain customers who were subscribers in 2009 but reduced their level of service or did not subscribe in all periods of 2010. Costs and expenses for the full year decreased by 0.1 percent, from $330.1 million in 2009 to $329.7 million in 2010.
Arbitron President and Chief Executive Officer William Kerr said "We will also work to enter new markets by further developing our capabilities in cross-platform services, as well as in media and marketing analytics. By pursuing opportunities to drive additional top-line growth by leveraging our existing PPM and diary platforms and by continuously seeking cost efficiencies, we believe we can continue to invest appropriately in the quality of our services while increasing margins. We expect to deploy our financial and other resources with the goal of building long-term value for our customers, our employees and our shareholders".