Penton Media & Primedia Report continued declines.In related news, two other major trade magazine publishers, Primedia Primedia Inc., NYSE: PRM, formerly known as K-III Communications, is a New York City-based mass media corporation. It is publicly owned, trading on the New York Stock Exchange, but private equity giant KKR holds a controlling stake in the company. (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 ) and 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 Cleveland, former county, England Cleveland, former county, NE England, created under the Local Government Act of 1972 (effective 1974). It was composed of the county boroughs of Hartlepool and Teeside and parts of the former counties of Durham and , OH), have reported continued declines in first quarter results. Both companies have been hit hard by the ongoing advertising slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. . Penton Penton was a brand of off-road use motorcycle introduced in 1968 by John Penton, a noted enduro rider on the dirt bike competition circuit. The first Penton motorcycles were modified small bore European bikes based on the Austrian KTM, with a Sachs engine, but with improved reported that first quarter revenue fell 43.9% when compared to the first quarter of 2001, going from $112.7 million to $63.2 million. The company experienced a net loss of $4.6 million compared to a net loss of $1.3 million last year. Penton said that some of the results could be attributed to the adoption of new accounting rules and the shift of two shows from first quarter 2001 to second quarter 2002. Penton said that publishing revenues declined 27.3%, to $41.6 million, from last year while trade show and conference revenue, adjusted for the shift of the shows, declined $13.6 million, or 42.1%, compared to the first quarter last year. Primedia reported a net loss of $139.6 million for the first quarter, also saying that much of the loss could be attributed to new accounting rules, compared to a loss of $85.8 million last year. Revenue declined slightly, going from $414.2 million in the quarter last year to $412 million this year. Primedia said that first quarter 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 of $32.1 million "exceeded guidance" and that the company "remains in compliance with all debt covenants."
COMPARISON OF REVENUE AND NET INCOME FOR SELECTED BUSINESS AND
PROFESSIONAL INFORMATION COMPANIES, FIRST QUARTER, 2001-2002
Revenue (000) Net Income
(000)
Company 2002 2001 % Chg. 2002
Thomson Corp. (T) 1,662,000 1,497,000 + 11.0 (34,000)
Rogers Comm. (NY) 994,765 912,902 + 9.0 (97,503)
McGraw-Hill (NY) 846,652 846,397 -- 29,202
Knight-Ridder (NY) 678,212 735,398 - 7.8 51,768
Scholastic (NQ) (1) 432,700 433,000 - 0.1 11,900
Primedia (NY) 412,090 414,201 - 0.5 (139,530)
Dow Jones (NY) (2) 392,891 459,868 - 14.6 6,884
Dun & Bradstreet (NY) 318,500 357,600 - 10.9 35,600
Equifax (NY) 261,400 285,200 - 8.3 41,700
Moody's (NY) 231,600 180,200 + 28.5 72,600
John Wiley (NY) (3) 207,981 163,800 + 27.0 21,352
Gartner Group (NY) (4) 201,100 227,300 - 11.5 (4,316)
Penton Media (NY) 63,200 112,700 - 43.9 (4,600)
CNET (NQ) 55,652 75,152 - 25.9 (31,050)
Ziff Davis (NY) 54,149 84,226 - 35.7 (29,286)
Info. Holdings (NY) 33,288 24,244 + 37.3 2,814
Value Line (NQ) (4) 21,620 24,956 - 13.4 5,618
VerticalNet (NQ) 8,005 9,293 - 13.9 1,718
Totals: 6,875,805 6,843,437 + 0.5% (59,129)
Net Income (000)
Company 2001 % Chg.
Thomson Corp. (T) 167,000
Rogers Comm. (NY) (146,956)
McGraw-Hill (NY) 20,391 + 43.2
Knight-Ridder (NY) 40,737 + 27.1
Scholastic (NQ) (1) 3,700 + 221.6
Primedia (NY) (85,808)
Dow Jones (NY) (2) 14,707 - 53.2
Dun & Bradstreet (NY) 30,900 + 15.2
Equifax (NY) 48,100 - 13.3
Moody's (NY) 48,000 + 51.3
John Wiley (NY) (3) 17,281 + 23.6
Gartner Group (NY) (4) (53,580)
Penton Media (NY) (1,300)
CNET (NQ) (316,575)
Ziff Davis (NY) (44,600)
Info. Holdings (NY) 3,004 - 6.3
Value Line (NQ) (4) 11,793 - 52.4
VerticalNet (NQ) (90,347)
Totals: (333,553)
(1.) Third quarter ending Feb. 28.
(2.) Excluding sale of Canadia newspapers.
(3.) Third quarter ending Jan. 31.
(4.) Second quarter ending Jan 31.
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