Revenue totaled $371.6 million and adjusted earnings before income tax, depreciation and amortization were $40.3 million.
Penton also announced that ABRY Partners L.L.C. had signed a commitment letter with Penton enabling ABRY to purchase up to $40 million of convertible preferred stock in a private placement. The deal is intended to relieve Penton of some of its current long-term debt. The agreement is expected to be finalized in March.
Pentonâs technology and manufacturing media divisions, particularly trade shows and magazines serving the Internet and broadband sector, were hit hardest by the recession.