WASHINGTON (dpa-AFX) - Arbitron Inc. (ARB) said its net income for the first quarter rose to $17.8 million or $0.64 per share from $16.2 million or $0.59 per share in the same quarter a year earlier.
Quarterly revenues improved to $106.4 million from $100.9 million in the first quarter of 2011. The company noted that revenue for the quarter benefited primarily from annual rate increases, including the continued phase-in of contracted price increases for the company's Portable People Meter service.
Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenues of $105.38 million for the quarter. Analysts' estimates typically exclude special items.
Looking forward, the company anticipates 2012 earnings per share to be between $2.15 and $2.30. Also, Arbitron expects 2012 revenue to increase between 5 percent and 7 percent over its 2011 revenue of $422.3 million.
Analyst expect the company to earn $2.25 per share on revenues of $444.53 million for the year.
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