Arbitron Spends $6.1 Million On Nielsen Sale
That $6.1 million was in Q2 of this year. The deal was announced eight months ago and is still hung up getting regulatory approval. Arbitron took in $107.4 million in revenue in the second quarter of 2013, a 2.9 percent increase. Net income for the quarter was $7.1 million or $0.26 per share, compared to $10 million, or $0.37 per share, in Q2 of 2012. Arbitron also says it invested $3.3 million in Arbitron Mobile during the quarter.
Arbitron President and Chief Executive Officer Sean Creamer said he was pleased with the financial performance and operating results of the business for the second quarter and year-to-date. "As the media and advertising marketplaces continue to evolve and new technologies permit consumers to consume content virtually anytime and anywhere, it is important we keep pace with these changes to ensure radio gets full credit for its audience, regardless of the delivery platform. Radio is growing and vibrant, and we are committed to helping the radio industry tell and validate its complete and compelling story."
Excluding the $6.1 million in costs for the pending Nielsen transaction incurred during the quarter, EBIT in the second quarter 2013 would have been $19.0 million, an increase of 19.0 percent compared to the second quarter 2012, yielding an EBIT margin of 17.7 percent as compared to 15.3 percent in the second quarter of 2012. Excluding costs related to the pending merger with Nielsen, second quarter EPS would have been $0.43, an increase of 16.2 percent over the second quarter of 2012.
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