The Nielsen Company B.V., a leading global information and media company, today announced its financial results for the three and six months ended June 30, 2008.
Reported revenues for the second quarter of 2008 were $1,304 million, an increase of 12% over reported revenues for the second quarter of 2007 of $1,169 million. Excluding the impact of currency fluctuations*, revenues for the quarter increased 6%. Reported revenues for the six months ended June 30, 2008 were $2,518 million, an increase of 12% over reported revenues for the six months ended June 30, 2007 of $2,241 million. Excluding the impact of currency fluctuations*, revenues for the six months ended June 30, 2008 increased 7%.

Reported operating income for the second quarter of 2008 was $169 million compared to $100 million for the second quarter of 2007. These results were negatively impacted by $9 million and $48 million, respectively, of charges relating to certain items such as restructuring costs, deal related costs and compensation agreements. Adjusting for these items, operating income, on a constant currency basis*, increased 14%.

For the six months ended June 30, 2008, reported operating income was $284 million compared to $156 million for the six months ended June 30, 2007. These results were negatively impacted by $16 million and $75 million, respectively, of charges relating to certain items such as restructuring costs, deal related costs and compensation agreements. Adjusting for these items, operating income, on a constant currency basis*, increased 24%.

Covenant earnings before interest, taxes, depreciation and amortization and other adjustments permitted under our senior secured credit facilities (“Covenant EBITDA”) was $1,361 million for the twelve month period ended June 30, 2008. Covenant EBITDA is a non – GAAP measure. See “Covenant EBITDA” below for a reconciliation of Loss from continuing operations of $210 million for the twelve months ended June 30, 2008 to Covenant EBITDA.

As of June 30, 2008, total debt was $8,712 million, and cash balances were $403 million. Capital expenditures were $171 million for the six months ended June 30, 2008, compared with $113 million for the six months ended June 30, 2007.

Conference Call and Webcast

The Nielsen Company will hold an earnings conference call, hosted by The Nielsen Company’s Chief Financial Officer, Brian J. West, at 9:00 a.m. U.S. Eastern Daylight Time (EDT) on Thursday, August 14, 2008. The call will be audio-webcast live at www.nielsen.com, and an archive will be available on the website after the call. In addition, a link to the company’s quarterly financial report on Form 10-Q has been posted at www.nielsen.com