Adjusted EBITDA for the first half of 2012 increased 2% to $721 million, or 5% on a constant currency basis compared to the first half of 2011.
Net income for the first half of 2012 was $128 million compared to a net loss of $112 million for the first half of 2011. The 2011 first half results included charges of $206 million, net of tax, associated with the IPO. Net income per share, on a diluted basis, was $0.35 compared to a net loss per share of $0.33 in the first half of 2011.
Adjusted Net Income for the first half of 2012 increased to $270 million compared to $219 million in the first half of 2011. Adjusted Net Income per share was $0.72 compared to $0.61 in the first half of 2011.
Financial PositionAs of June 30, 2012, cash balances were $283 million and gross debt was $6,555 million, excluding the $288 million mandatory convertible subordinated bonds due 2013. Net debt (gross debt less cash and cash equivalents) at the end of the quarter was $6,272 million and our net debt leverage ratio was 4.0x. Capital expenditures were $152 million for the first half of 2012 as compared to $142 million for the first half of 2011. Conference Call and Webcast Nielsen will hold a conference call to discuss second quarter results at 8:30 a.m. U.S. Eastern Time (ET) on July 25, 2012. The audio and slides for the call can be accessed live by webcast at http://ir.nielsen.com or by dialing 1-866-652-5200. Callers outside the U.S. and Canada can dial +1-412-317-6060. The passcode for the call is “Nielsen.” An archive will be available on the investor relations website after the call. Forward-looking Statements This news release includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as ‘will’, ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. These statements are subject to risks and uncertainties, and actual results and events could differ materially from what presently is expected. Factors leading thereto may include without limitations general economic conditions, conditions in the markets Nielsen is engaged in, behavior of customers, suppliers and competitors, technological developments, as well as legal and regulatory rules affecting Nielsen’s business and specific risk factors discussed in other releases and public filings made by the Company (including the Company’s filings with the Securities and Exchange Commission). This list of factors is not intended to be exhaustive. Such forward-looking statements only speak as of the date of this press release, and we assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events, or other factors.