March 24, 2009 / 10:25 PM / 11 years ago

UPDATE 1-Arbitron cuts jobs, reaffirms 2009 outlook

* To reduce workforce by about 10 pct full-time employees

* Says reducing non-employee related expenses

* Sees pre-tax expenses of $8 mln-$9 mln in Q1

* Reiterates 2009 revenue and earnings outlook

March 24 (Reuters) - Media ratings service company Arbitron Inc ARB.N said it reduced its workforce of full-time employees by about 10 percent and reaffirmed its 2009 outlook.

Arbitron said it would also reduce non-employee related expenses on a company-wide basis and expects to incur pre-tax expenses of about $8 million to $9 million in the first quarter as a result of the restructuring.

Arbitron, which expects to complete the restructuring before the end of the first quarter, said the workforce and expense reductions are expected to cut 2010 expenses by more than $10 million.

For 2009, the company reiterated its earnings forecast of between $1.40 and $1.55 a share. It still expects 2009 revenue to rise 6 percent to 10 percent over 2008 revenue of $368.8 million.

Shares of the company closed at $12.62 Tuesday on the New York Stock Exchange.

For the alerts, double-click here [ID:nWNAB7026] . (Reporting by Deepti Govind in Bangalore; Editing by Deepak Kannan)

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