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Nielsen Reports Second Quarter 2013 Results And Provides Update On Capital Allocation

Stocks in this article: NLSN

Nielsen Holdings N.V. (NYSE: NLSN), a leading global provider of information and insights into what consumers watch and buy, today announced financial results for the second quarter ended June 30, 2013.

"Nielsen’s second quarter results reflect solid operating and financial performance,” said David Calhoun, Chief Executive Officer of Nielsen. “With our continued focus on providing clients with innovative solutions, expansion into new geographies and our successful portfolio transformation, we are well positioned to execute our growth strategy and deliver greater value to shareholders over time.”

Calhoun continued, “We were pleased to announce a 25% increase to our quarterly dividend and a $500 million share repurchase authorization today. Returning excess cash to our shareholders continues to be an important component of our capital allocation strategy. The actions we announced today reflect our continued focus on long term shareholder value and confidence in the cash generation potential of the company.”

Second Quarter 2013 Operating Results

Revenues for the second quarter increased 3% to $1,386 million, or 4% on a constant currency basis compared to the second quarter of 2012. Our revenue performance was driven by a 2% increase within our Buy segment (3% increase on a constant currency basis), and a 5% increase within our Watch segment (5% on a constant currency basis). Growth in Information services was driven by increased client investment in retail measurement in all regions around the world with the exception of Europe. Our Insights services business delivered favorable growth driven by higher client demand worldwide.

Adjusted EBITDA for the second quarter increased 6% to $396 million, or 6% on a constant currency basis compared to the second quarter of 2012. We continue to see the benefits of productivity efforts that enable our reinvestment in growth initiatives.

Net income for the second quarter increased 306% to $426 million, or 302% on a constant currency basis compared to the second quarter of 2012. The second quarter 2013 results included a $303 million gain associated with the sale of our Expositions business in June 2013. Net income per share, on a diluted basis, was $1.12 compared to $0.28 in the second quarter of 2012.

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