VNU reports first-half earnings

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Haarlem, the Netherlands--VNU N.V., which operates VNU Business Information in the U.S., reported a 5% increase in cash earnings to $197 million before goodwill charges and extraordinary items in the first half of 2002, versus the same period last year.

The increase in cash earnings came on revenues of $2.12 billion, a decline of 10% compared with the first half of 2001. VNU Business Information, which publishes Billboard and produces Miller Freeman trade shows, saw its revenue slip to $432 million in the first half, down from $513 million in the same period last year. Operating income for the division fell to $76 million from $94 million, less of a decrease than the company anticipated.

VNU, which generates most of its revenue from its marketing information and media measurement and information divisions, which include ACNielsen, Nielsen Media Measurement and Nielsen//NetRatings, said it expected year-end results in 2002 to be comparable to 2001.

--Sean Callahan

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