某些非美国通用会计准则
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
固定货币列报
我们在报告和固定汇率的基础上评估我们的运营结果。恒定货币列报是一种非美国通用会计准则，不包括外汇汇率波动的影响。我们相信，提供固定汇率信息可为我们的运营结果提供有价值的补充信息，这与我们评估业绩的方式是一致的。我们计算固定汇率百分比的方法是，使用当期汇率转换上期本地货币财务业绩，并将这些调整后的金额与当期报告的业绩进行比较。
调整后 EBITDA 和调整后净收入
我们将调整后 EBITDA 定义为综合运营报表中扣除利息收入和支出、所得税、折旧和摊销、重组费用、商誉和无形资产减值费用、股票薪酬费用、综合运营报表中的其他非经营性项目以及被视为非正常或非经常性的某些其他项目之前的净收入或亏损。调整后息税折旧摊销前利润（EBITDA）并非按照美国通用会计准则（GAAP）进行的列报，由于计算方法可能存在不一致，以及受解释项目的影响，我们对调整后息税折旧摊销前利润（EBITDA）这一术语的使用可能与我们行业中其他公司对类似术语的使用有所不同。我们使用调整后息税折旧摊销前利润来衡量我们在合并层面和运营分部内的不同时期的业绩，以评估和资助激励补偿计划，并将我们的业绩与竞争对手的业绩进行比较。
我们将调整后净利润定义为综合运营报表中扣除所得税、与收购的有形资产和无形资产相关的折旧和摊销、重组费用、商誉和无形资产减值费用、综合运营报表中的其他非运营项目以及其他某些被认为具有不寻常或非经常性质的项目后的净收入或亏损，再减去所得税现金支付。调整后净利润中还不包括 2013 年到期的强制可转换次级债券的利息支出。按摊薄基准列报的调整后普通股每股净收益包括与股票薪酬计划相关的潜在普通股，根据美国通用会计准则，这些潜在普通股可能具有反摊薄作用。该数额还包括根据本期普通股平均价格计算的与强制可转换债券相关的普通股可转换加权平均股数。
调整后的净收入和调整后的普通股每股净收入不按照美国通用会计准则列报。
下表分别列出了截至 2011 年 12 月 31 日和 2010 年 12 月 31 日三个月和十二个月的净利润与调整后息税折旧摊销前利润和调整后净利润的对账情况，以及按美国通用会计准则计算的加权平均流通股与稀释性流通股的对账情况：
联系方式
投资者关系： Liz Zale, +1 646 654 4593
媒体关系： Kristie Bouryal， +1 646 654 5577
- 全年收入增长 8%，达到 55.32 亿美元，按固定汇率计算增长 6
- 本年度调整后息税折旧摊销前利润增长 10%，达到 15.46 亿美元，按固定汇率计算增长 8
- 本年度调整后净收入从 2.66 亿美元增至 5.90 亿美元。本年度净收入为 8600 万美元，而 2010 年为 1.32 亿美元。
New York, USA – February 6, 2012 – Nielsen Holdings N.V. (NYSE: NLSN), a leading global provider of information and insights into what consumers buy and watch, today announced financial results for the fourth quarter and year ended December 31, 2011.
“Nielsen delivered solid fourth quarter results, with double-digit growth in developing markets and steady gains in all other regions,” said David Calhoun, Chief Executive Officer of Nielsen. “We feel great about our first year as a public company and look forward to achieving continued progress in 2012.”
Fourth Quarter 2011 Operating Results
Revenues for the fourth quarter increased 4% to $1,421 million, or 5% on a constant currency basis compared to the fourth quarter of 2010. Growth was driven by a 4% increase within our Buy segment (5% on a constant currency basis), a 3% increase within our Watch segment (3% on a constant currency basis) and a 17% increase within our Expositions segment (17% on a constant currency basis).
与 2010 年第四季度相比，第四季度调整后息税折旧摊销前利润（EBITDA）增长 7%，达到 4.32 亿美元，按固定汇率计算增长 9%。第四季度净收入为 9500 万美元，而 2010 年第四季度为 400 万美元。摊薄后每股净收益为 0.26 美元，2010 年第四季度为 0.01 美元。第四季度调整后净收入从 2010 年第四季度的 9,900 万美元增至 1.9 亿美元。调整后每股净收益为 0.51 美元，2010 年第四季度为 0.35 美元。
Year Ended December 2011 Operating Results
Revenues for full year 2011 increased 8% to $5,532 million, or 6% on a constant currency basis compared to full year 2010. Growth was driven by a 10% increase within our Buy segment (7% on a constant currency basis), a 5% increase within our Watch segment (4% on a constant currency basis) and a 7% increase in our Expositions segment (7% on a constant currency basis).
与 2010 年相比，2011 年全年调整后息税折旧摊销前利润（EBITDA）增长 10%，达到 15.46 亿美元，按固定汇率计算增长 8%。2011 年全年净收入为 8600 万美元，而 2010 年为 1.32 亿美元。2011 年的业绩包括与首次公开募股相关的费用 2.06 亿美元（税后净额 1.27 亿美元）。摊薄后每股净收益为 0.24 美元，2010 年为 0.46 美元。2011 年全年调整后净收入增至 5.9 亿美元，而 2010 年全年调整后净收入为 2.66 亿美元。调整后每股净收益为 1.61 美元，而 2010 年为 0.95 美元。
财务状况
As of December 31, 2011, cash balances were $319 million and gross debt was $6,475 million, excluding the $288 million mandatory convertible subordinated bonds due 2013. Net debt (gross debt less cash and cash equivalents) at the end of 2011 was $6,156 million and our net debt leverage ratio was 4.0x. In 2011, we voluntarily repaid $287 million of our senior secured term loans due 2013, including $162 million in the fourth quarter. Capital expenditures were $367 million for full year 2011, compared with $334 million for 2010. In February 2012, we executed a new $1.2 billion five-year term loan, the proceeds from which were applied to refinance the majority of our previously existing 2013 bank maturities. This transaction results in 84% of our debt portfolio with a maturity of 2016 or beyond.
电话会议和网络广播
Nielsen will hold a conference call to discuss fourth quarter and full year results at 9:00 a.m. U.S. Eastern Time (ET) on February 6, 2012. The audio and slides for the call can be accessed live by webcast at https://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.
前瞻性声明
本新闻稿中包含的信息可能构成根据《1995 年私人证券诉讼改革法案》（Private Securities Litigation Reform Act of 1995）安全港条款做出的前瞻性声明。这些表述可以用 "将"、"预计"、"应该"、"可能"、"应 "等词语和类似表述来识别。这些陈述存在风险和不确定性，实际结果和事件可能与目前的预期存在实质性差异。导致上述情况的因素可能包括但不限于总体经济状况、尼尔森所处市场的状况、客户、供应商和竞争对手的行为、技术发展、影响尼尔森业务的法律和监管规则以及公司发布的其他新闻稿和公开文件（包括公司向美国证券交易委员会提交的文件）中讨论的特定风险因素。上述因素并非详尽无遗。此类前瞻性声明仅针对本新闻稿发布之日，我们不承担因新信息、未来事件或其他因素而更新我们或代表我们所做的任何书面或口头前瞻性声明的义务。
关于尼尔森
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 Operation — (Three and Twelve Months Ended December 31, 2011 and 2010)
The following table sets forth, for the periods indicated, the amounts included in our Consolidated Statements of Operations:
