Penton Media Reports Higher 2Q Revenue

Staff -- Tradeshow Week, 8/28/2006

Penton Media boosted second-quarter revenue and cut its net loss, compared with the same quarter of 2005.

The Cleveland-based firm reported $47.6 million in revenue during the quarter, an increase of 8.7 percent over the same period in 2005. The increase includes $2.6 million in revenue related to the shift of two of its IT conferences — SQL Live and ASP/VS Developers Conference — from the first quarter of 2005 to the second quarter of 2006.

Event revenue in the second quarter increased more than 41 percent, to $5 million, compared with 2005.

Penton CEO David Nussbaum said the firm's "events business, both our existing shows and our new launches, continues to power not only our financial results but also drives our strategic focus of providing a full tripod of marketing opportunities for Penton's customers."

Penton's event revenue in the first half increased by 12 percent to $22.4 million. In the past six months, the firm has launched five new events (including Technology Connections Europe and World Ethnic Market) that delivered $1.7 million in revenue.

One of Penton's largest shows, Natural Products Expo West (produced by its subsidiary New Hope Natural Media) staged in March, saw a revenue gain of 14 percent over 2005. Additionally, its IT Developer Conferences in the first half grew by 57 percent, compared with 2005.

The firm's net loss in the second quarter was $3.7 million, a decrease of $2.1 million, or 36.5 percent, compared with the 2005 second quarter. Its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased 20.5 percent to $8.2 million.

In the first half of the year, Penton reported $102 million in revenue, up 4.9 percent from $97 million in the first half of 2005.