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Nielsen Reports Second Quarter 2012 Results

About Nielsen

Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows and related properties. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA and Diemen, the Netherlands. For more information, visit www.nielsen.com.

Results of Operations—(Three and Six Months Ended June 30, 2012 and 2011)
 

The following table sets forth, for the periods indicated, the amounts included in our Condensed Consolidated Statements of Operations:
   

 
    Three Months Ended

June 30,

(Unaudited)
Six Months Ended

June 30,

(Unaudited)
(IN MILLIONS EXCEPT SHARE AND PER SHARE DATA) 2012   2011 2012   2011
Revenues $ 1,385     $ 1,396   $ 2,725   $ 2,698  
Cost of revenues 564 570 1,129 1,119
Selling, general and administrative expenses 441 450 894 993
Depreciation and amortization 127 135 258 271
Restructuring charges   16       23     53     46  
Operating income   237       218     391     269  
Interest income 1 2 2 3
Interest expense (107 ) (114 ) (213 ) (254 )
Loss on derivative instruments (1 )
Foreign currency exchange transaction losses, net (4 ) (10 ) (13 ) (3 )
Other income/(expense), net   10       9     4     (221 )
Income/(loss) from continuing operations before income taxes and equity in net income of affiliates 137 105 171 (207 )
(Provision)/benefit for income taxes (38 ) (39 ) (45 ) 95
Equity in net income of affiliates   4       3     2     1  
Income/(loss) from continuing operations 103 69 128 (111 )
Loss from discontinued operations, net of tax                 (1 )
Net income/(loss) 103 69 128 (112 )
Net (loss)/income attributable to noncontrolling interests   (1 )         (1 )   1  
Net income/(loss) attributable to Nielsen stockholders $ 104     $ 69   $ 129   $ (113 )
Net income/(loss) per share of common stock, basic and diluted
Income/(loss) from continuing operations $ 0.28 $ 0.19 $ 0.35 $ (0.33 )
Net income/(loss) attributable to Nielsen stockholders $ 0.28 $ 0.19 $ 0.35 $ (0.33 )
Weighted-average shares of common stock outstanding, basic 361,528,675 358,792,103 361,205,184 345,100,814
Dilutive shares of common stock 4,347,044 5,411,316 4,665,666
Weighted-average shares of common stock outstanding, diluted   365,875,719       364,203,419     365,870,850     345,100,814  

Certain Non-GAAP Measures

We use the non-GAAP financial measures discussed below to evaluate the results of our operations. We believe that the presentation of these non-GAAP measures provides useful information to investors regarding financial and business trends related to our results of operations and that when this non-GAAP financial information is viewed with our GAAP financial information, investors are provided with a more meaningful understanding of our ongoing operating performance. None of the non-GAAP measures presented should be considered as an alternative to net income or loss, operating income or loss, cash flows from operating activities, total indebtedness or any other performance measures of operating performance, liquidity or indebtedness derived in accordance with GAAP. These non-GAAP measures have important limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Our use of these terms may vary from the use of similarly-titled measures by others in our industry due to the potential inconsistencies in the method of calculation and differences due to items subject to interpretation.

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