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  • The Nielsen Company Reports Third Quarter 2010 Results

    Published on October 29, 2010

    United States: The Nielsen Company B.V., a leading global information and measurement company, announced its financial results for the quarter and nine months ended September 30, 2010.

     Reported revenues for the three months ended September 30, 2010 were $1,289 million, an increase of 5% over reported revenues for the three months ended September 30, 2009 of $1,227 million. Excluding the impact of currency fluctuations*, revenues for the three months increased 7%.

     Reported operating income for the three months ended September 30, 2010 was $201 million compared to an operating loss of $326 million for the three months ended September 30, 2009. The 2010 results included $11 million of charges relating to restructuring costs. The 2009 results included $524 million of charges relating to the September 2009 impairment of goodwill and other intangible assets as well as restructuring. Adjusting for these items and excluding the impact of currency fluctuations*, operating income increased 10%.

     Reported revenues for the nine months ended September 30, 2010 were $3,755 million, an increase of 7% over reported revenues for the nine months ended September 30, 2009 of $3,511 million. Excluding the impact of currency fluctuations*, revenues for the nine months increased 6%.

     Reported operating income for the nine months ended September 30, 2010 was $515 million compared to an operating loss of $42 million for the nine months ended September 30, 2009. The 2010 results included $33 million of charges relating to restructuring costs. The 2009 results included $533 million of charges relating to the September 2009 impairment of goodwill and other intangible assets as well as restructuring. Adjusting for these items, operating income, on a constant currency basis*, increased 10%.

     Covenant earnings before interest, taxes, depreciation and amortization and other adjustments permitted under our senior secured credit facilities (“Covenant EBITDA”) was $1,415 million for the twelve months ended September 30, 2010. Covenant EBITDA is a non – GAAP measure. See “Covenant EBITDA” below for a reconciliation of Income from continuing operations of $191 million for the twelve months ended September 30, 2010 to Covenant EBITDA.

     As of September 30, 2010, total debt was $8,571 million, and cash balances were $420 million. Capital expenditures were $226 million for the nine months ended September 30, 2010, compared with $204 million for the nine months ended September 30, 2009.

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