Arbitron Lowers 2008 Earnings Outlook

Arbitron, which measures radio listening habits, now expects a profit of $1.30 per share to $1.44 per share for the year, down from its prior outlook of $1.42 per share to $1.56 per share.

Analysts, on average, expect profit of $1.39 per share, according to a poll by Thomson Financial.

The company still expects sales to grow 8 percent to 10 percent. Analysts expect sales of $367.5 million, a roughly 9 percent increase.

The research service, Project Apollo, was to be based on Nielsen technology that measures consumers' buying behavior coupled with Arbitron's portable people meter, which tracks electronic media exposure. It had been in the works since 2005 but Arbitron said there wasn't enough interest from clients to make it a sustainable venture.