FIRST QUARTER RESULTS FROM PENTON, ADVANSTAR & MCGRAW--HILL.Three major business information companies, including Advanstar Communications (Boston, MA), Penton Media Penton Media, Inc. (OTC: PTON.OB), founded in 1892, is a diversified business-to-business media company. Penton Media is a mass media corporation that publishes and produces over 40 magazines, 80 trade shows, and 47 web sites. (Cleveland, OH) and McGraw-Hill (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), have reported first quarter results ending March 31. First quarter revenue for Advanstar decreased 3.4%, going from $133.1 million in the period last year to $128.6 million this year. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma adjusted revenue increased 1.8%, going from $127.1 million in 2000 to $129.4 million this year. Pro forma adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the quarter increased 7.7% to $44.5 million compared to $41.3 million, last year. Advanstar chairman/ceo Robert Krakoff said "our first quarter is our largest quarter of the year and we are pleased with adjusted EBIDTA EBIDTA Earnings Before Interest Depreciation Taxes and Amortization growth over last year." Diversification, Krakoff said, "has been beneficial to our performance." Penton Media reported first quarter revenue of $112.7 million, an increase of 48.6% over the $75.8 reported last year. The company had a loss of $1.3 million compared to net income of $66.3 million last year. Excluding discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. and nonrecurring items, Penton's adjusted EBITDA rose 80.4% to $19.9 million from $11 million last year, while net income rose from $0.3 million to $1.2 million this year. Adjusted revenue for Penton's trade shows and conferences rose $4.8 million or 10.2%. Publishing revenues rose 8% to $57.2 million. Penton said the addition of a full quarter of results from Duke Communications was partially offset by a sharp revenue fall in Internet World magazine. Online media revenue rose from $0.4 million last year to $3.3 million this year, mainly due to the addition of Duke's Web business. Quarterly revenue for McGraw-Hill rose 8% to $846.4 million. Net income was $20.4 million compared to a restated loss of $24.7 million last year. The company said results were negatively impacted by an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $57.8 million posted by its educational publishing unit, compared to a loss o; $38.4 million last year. Quarterly revenue for that unit rose 30% to $307.8 million. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion