Nielsen CO B.V. - FORM 10-Q - EX-99.1 - UNAUDITED QUARTERLY FINANCIAL DATA AND QUARTERLY COVENANT EBITDA - April 29, 2010

Attached files

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10-Q - FORM 10-Q - Nielsen CO B.V.d10q.htm
EX-10.24(B) - FORM OF STOCK OPTION AGREEMENT - Nielsen CO B.V.dex1024b.htm
EX-31.1 - CEO 302 CERTIFICATION PURSUANT TO RULE 13A-15(E)/15D-15(E) - Nielsen CO B.V.dex311.htm
EX-31.2 - CFO 302 CERTIFICATION PURSUANT TO RULE 13A-15(E)/15D-15(E) - Nielsen CO B.V.dex312.htm
EX-32.1 - CERTIFICATION PURSUANT TO SECTION 906 - Nielsen CO B.V.dex321.htm
EX-10.14(B) - 2006 STOCK ACQUISITION AND OPTION PLAN, AS AMENDED AND RESTATED - Nielsen CO B.V.dex1014b.htm

Exhibit 99.1

The Nielsen Company B.V.

Unaudited Quarterly Financial Data and Quarterly Covenant EBITDA

for Each of the Interim Periods in the Year Ended December 31, 2009, as Amended

The below tables present selected unaudited quarterly financial information previously presented in our Annual Report on Form 10-K as of December 31, 2009 and for the year then ended, as amended to correct for certain clerical errors.

Unaudited Quarterly Financial Data

 

(IN MILLIONS)

    First
Quarter		     Second
Quarter		     Third
Quarter		     Fourth
Quarter		  

2009

         

Revenues

    $ 1,102      $ 1,182      $ 1,227      $ 1,297   

Operating income/(loss)

     112        172        (326 )      158   

Income/(loss) from continuing operations before income taxes and equity in net (loss)/income of affiliates

      6        (43 )      (534 )      (29 ) 

Discontinued operations, net of tax

     (4 )      4        (58 )      (3 ) 

Net income/(loss) attributable to The Nielsen Company B.V.

    $ 4      $ (9 )    $ (527 )    $ 42   

Effect of Discontinued Operations on Historical Covenant EBITDA

Under our senior secured credit facility, Covenant EBITDA related to any business classified as discontinued operations shall be excluded from the calculation in determining the Total Leverage Ratio and the Interest Coverage Ratio. As all prior periods have been restated to reflect the discontinued Publications portion of Business Media, quarterly Covenant EBITDA has been restated accordingly.

 

    Covenant EBITDA  
    Three Months Ended     LTM  

(in Millions)

   March 31,
2009		     June 30,
2009		     September 30,
2009		     December 31,
2009		     December 31,
2009		  

Income/(loss) from continuing operations

   $ 9      $ (13 )    $ (468 )    $ 45      $ (427 ) 

Interest expense, net

     159        149        166        163        637   

Provision/(benefit) for income taxes

     —          (25 )      (99 )      (71 )      (195 ) 

Depreciation and amortization

     130        136        143        148        557   
                                       

EBITDA

     298        247        (258 )      285        572   

Non-cash charges

     3        (6 )      533        6        536   

Unusual or non-recurring items

     (48 )      72        49        33        106   

Restructuring charges and business optimization costs

     8        8        (2 )      58        72   

Sponsor monitoring fee

     3        3        3        3        12   

Other

     (4 )      (7 )      42        —          31   
                                       

Covenant EBITDA accounting for discontinued operations

   $ 260      $ 317      $ 367      $ 385      $ 1,329   
                                       

Covenant EBITDA reported(1)

  $ 257      $ 334      $ 357       
                           

 

(1) As reported numbers for each of the three months periods ended March, June and September 2009 exclude the effect of discontinued operations.

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