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Nielsen Reports Third Quarter 2012 Results

Conference Call and Webcast

Nielsen will hold a conference call to discuss third quarter results at 8:30 a.m. U.S. Eastern Time (ET) on October 22, 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.

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 Nine Months Ended September 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

September 30,

(Unaudited)

Nine Months Ended

September 30,

(Unaudited)

(IN MILLIONS EXCEPT SHARE AND PER SHARE DATA)       2012     2011     2012   2011  
Revenues $ 1,423   $ 1,413   $ 4,148   $ 4,111  
 
Cost of revenues 565 554 1,694 1,673
Selling, general and administrative expenses 444 460 1,338 1,453
Depreciation and amortization 130 125 388 396
Restructuring charges   3     9     56     55  
 
Operating income   281     265     672     534  
 
Interest income 1 2 3 5
Interest expense (106 ) (114 ) (319 )

(368

)

Loss on derivative instruments (1 )
Foreign currency exchange transaction gains/(losses), net 1 (4 ) (12 ) (7 )
Other (expense)/income, net   (1 )       3     (221 )
 
Income/(loss) from continuing operations before income taxes and equity in net income of affiliates 176 149 347 (58 )
(Provision)/benefit for income taxes (69 ) (44 ) (114 ) 51
Equity in net income of affiliates   (1 )   (2 )   1     (1 )
 
Income/(loss) from continuing operations 106 103 234 (8 )
Loss from discontinued operations, net of tax               (1 )
 
Net income/(loss) 106 103 234 (9 )

Net income attributable to noncontrolling interests

  1     1         2  
 

Net income/(loss) attributable to Nielsen stockholders

$ 105   $ 102   $ 234   $ (11 )
 
Net income/(loss) per share of common stock, basic
Income/(loss) from continuing operations $ 0.29 $ 0.28 $ 0.65 $ (0.03 )
Net income/(loss) attributable to Nielsen stockholders $ 0.29 $ 0.28 $ 0.65 $ (0.03 )
Net income/(loss) per share of common stock, diluted
Income/(loss) from continuing operations $ 0.29 $ 0.28 $ 0.64 $ (0.03 )
Net income/(loss) attributable to Nielsen stockholders $ 0.29 $ 0.28 $ 0.64 $ (0.03 )
 
Weighted-average shares of common stock outstanding, basic 362,016,373 359,381,233 361,477,554 349,910,371
Dilutive shares of common stock 4,205,147 5,090,571 4,511,519
Weighted-average shares of common stock outstanding, diluted   366,221,520     364,471,804     365,989,073     349,910,371  
 

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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