Arbitron Climbs Most in MOnth as Forecast Tops Estimates: Washington Mover
Arbitron Inc. (ARB), the provider of audience ratings for U.S. radio stations, rose the most in a month after forecasting sales that beat analysts’ estimates.
The company advanced 5.1 percent to $37.21 at the close in New York, the biggest gain since Jan. 3. The shares have climbed 8.1 percent this year.
Revenue will increase 5 percent to 7 percent this year, the company said today in a statement. That would be $443.4 million to $451.9 million, and analysts had estimated $442 million on average, according to a Bloomberg survey.
Arbitron is benefiting from price increases on its Portable People Meter radio ratings services and gains in sales of discretionary services. The company said it plans to buy back as much as $100 million in stock.
Fourth-quarter profit excluding some items was 64 cents a share, beating the average estimate of 56 cents, and Arbitron said sales climbed to $120.1 million. That was in line with the $119 million average estimate.
Earnings excluding some items will be $2.15 to $2.30 a share in 2012, the company said in the statement. The average estimate of six analysts surveyed by Bloomberg is $2.24.
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