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PENTON TO LAUNCH INTERNET WIRELESS TRADE SHOW; REPORTS FULL-YEAR RESULTS.

Penton Media (Cleveland, OH) will soon have a second event focusing on the Internet wireless sector with the launch of "Internet World Wireless West" conference on Dec. 3-6, 2001 in San Jose (CA). "Internet World Wireless East" is being held on Feb. 20-23 in New York City.

Penton said the new event will focus on the latest technologies and applications of the wireless Internet and will provide "analysis of the opportunities wireless has created" in the fields of infrastructure, m-commerce, enterprise applications, platforms, content outsourcing, m-advertising, multimedia, Web development and investment. The new event is being targeted to "Internet professionals charged with the development of wireless strategies for the enterprise," Penton said.

In related news, operating revenue for Penton Media increased 34.5% in 2000, going from $300.8 million in 1999 to $404.6 million last year. Annual net income went from $8.2 million in 1999 ($10.9 million in 1998) to $79.6 million last year, an increase of 870.7%.

Penton said that revenue from trade shows and conferences accounted for 41.6% of total company revenue, up from the 32.4% reported in 1999. Overall, revenue for events grew 72.9% to $168.4 million, up from $97.4 million in 1999. 2000 publishing revenue totaled $230.1 million, a 13.6% increase over 1999. Penton's still unprofitable Internet operations generated revenue of $6 million in 2000, up from the $0.9 million recorded in 1999.

The company warned that, because of a slowing economy and changing market conditions, a slowdown will be reflected in first quarter results. To deal with that slowdown, Penton said it has cut 50 positions, adjusted its portfolio of Internet media products and has eliminated its centralized corporate Web development operations.

Penton noted that 2000 developments include the acquisition of 55 trade shows, Duke Communications and a controlling interest in ComMunich GmbH, as well as the launch of 4 magazines (ISP World, Streaming Media, Medical Design News and Designing), 18 events, a variety of portal Web sites, and a network of online trade shows.
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Title Annotation:Penton Media
Comment:PENTON TO LAUNCH INTERNET WIRELESS TRADE SHOW; REPORTS FULL-YEAR RESULTS.(Penton Media)
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Feb 15, 2001
Words:344
Previous Article:TWO NEW JOURNALS LAUNCHED BY BNA INTERNATIONAL.
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