Advanstar announces second-quarter results

Published on .

Most Popular

New York—Advanstar Communications reported net income of $15.5 million for the second quarter, compared with a net loss of $27.8 million in the second quarter of 2004.

Net income in the second quarter of 2005 includes results of assets sold to Questex, as well as a $53 million gain on the sale of the assets.

Revenue for the second quarter was $56 million, down 0.4% from $56.2 million in the second quarter of 2004.

Advanstar said that workforce reductions related to the Questex sale resulted in a second quarter charge of $1.2 million for severance costs. When the deal was completed in May, Advanstar announced that 89 employees would be let go by the end of the year.

—Kate Maddox

In this article: