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Advanstar posts sharply higher revenue, operating income

Published on .

New York—Reflecting its acquisition last year of Medical Economics and related Thomson properties, Advanstar Communications reported that its third-quarter revenue increased 35.2% to $99.8 million, from $73.8 million in the year-earlier period.

Operating income increased 79.6% to $17.8 million, from $9.9 million in the third quarter last year.

Advanstar posted a net loss of $9.8 million for this year’s third quarter, which includes a $6.6 million loss from discontinued operations related to the sale of Advanstar’s German trade show business. The company had a net loss of $18.1 million in last year’s third quarter.

EBITDA (earnings before interest, taxes, depreciation and amortization) increased $7.6 million, or 34.4%, to $29.9 million in this year’s third quarter. That compared with EBITDA of $22.3 million in the year-earlier period.

—Sean Callahan

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