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Arbitron Reports Growth in Revenue for 2nd Quarter

ArbitronArbitron Inc. (NYSE: ARB) today announced results for the second quarter ended June 30, 2013.

Computed in accordance with U.S. generally accepted accounting principles (GAAP), net income for the second quarter was $7.1 million or $0.26 per share (diluted), compared with $10.0 million, or $0.37 per share (diluted), for the second quarter of 2012.

Costs and expenses in the second quarter 2013 included $6.1 million of consulting, legal, and other expenses related to the pending acquisition of Arbitron by Nielsen Holdings N.V. (“Nielsen”)—which impacted net income by $0.17 per share (diluted).

Excluding the expenses directly related to the pending acquisition, earnings per share (diluted) for the second quarter 2013 would have been $0.43 per share (diluted), an increase of 16.2 percent over second quarter 2012 earnings per share (diluted) of $0.37.

Additional Financial Highlights

For the second quarter of 2013, the Company reported revenue of $107.4 million, an increase of $3.0 million or 2.9 percent compared to revenue of $104.4 million during the second quarter of 2012.

Costs and expenses for the second quarter 2013 were $100.0 million, an increase of $6.2 million compared to $93.8 million in the second quarter 2012.

EBIT (earnings before interest and income tax expense) for the second quarter 2013 was $12.9 million compared with EBIT of $16.0 million for the second quarter of 2012, yielding an EBIT margin of 12.0 percent as compared to 15.3 percent in the second quarter of 2012.

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.

The net pre-tax investment in our cross platform initiatives and in Arbitron Mobile during the second quarter of 2013 was $3.3 million, compared to $3.6 million in the second quarter last year.

EBITDA (earnings before interest, income taxes, depreciation and amortization) was $19.7 million in the second quarter of 2013 compared with EBITDA of $23.6 million in the second quarter of 2012, with a resultant EBITDA margin of 18.3 percent versus 22.6 percent in the second quarter of 2012.

Excluding the costs for the pending Nielsen transaction, EBITDA in the second quarter 2013 would have been $25.8 million, an increase of $2.2 million or 9.2 percent compared to the second quarter 2012, with a resultant EBITDA margin of 24.0 percent versus 22.6 percent in the second quarter of 2012.

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