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Penton posts higher revenue, earnings

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Cleveland—Penton Media reported Friday that its revenue in the first quarter of 2005 totaled $53.3 million, an increase of 1% over $52.8 million in the year-earlier period. The company’s adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased 25.8% to $15.5 million in the first quarter, from $12.3 million in the same quarter last year. Penton’s net income for the quarter was $1.8 million compared with a $5.9 million net loss in the first quarter of 2004. Penton’s print publishing revenues were down 2.5% for the quarter, but online revenues increased 19.8%.

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