American Lawyer Media reports 2001 rev. & net decline; launches NL.

American Lawyer Media (ALM; New York) reported that annual revenues for 2001 were $145.8 million, a decrease of $8.7 million,. or 5.6%, from the $154.5 million reported in 2000. Earnings before interest and taxes (EBITDA) totaled $24.1 million, a decrease of 2.8%, or $0.7 million, from fiscal year 2000. Fourth quarter revenues for the company decreased by 8.2%, or $3.2 million, from fourth quarter 2000 revenue of $35.4 million.

ALM said that FY 2000 and fourth quarter EBITDA results include losses from The Daily Deal, sold in March 2000, the closing of ALM's weekly newsletter division, its specialty publishing division and the start-up of ALM's international operations. The company said that it experienced revenue declines in several advertising areas, including classified, technology and legal notice ads. Ad revenues from law firms, books, trade shows and legal information services increased.

ALM president William Pollak said the 2001 advertising environment was the worst in decades and "we have not yet seen a reversal of this trend in 2002. The legal industry has historically lagged the general economy in ecomonic recoveries, and current spending appears to confirm that pattern."

Also, Law Journal Press (LJP; New York), a division of American Lawyer Media, has begun the publication of Insurance Coverage Law Bulletin, a monthly newsletter covering developments in insurance law. An annual subscription to the letter costs $175.

Editorial covers the "latest issues, trends and cases" and includes summaries of relevant legal developments from all jurisdictions. It also includes information on claims management, commentary on recent market developments, progress reports on major asbestos bankruptcies, emerging re-insurance issues and the London Market, and identification of policyholders in corporate successions.

Law Journal Press publishes 19 other newsletters, including Health Care Fraud & Abuse and Internet Newsletter.