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Penton posts higher revenue, EBITDA

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Cleveland—Penton Media reported Friday that its revenue increased year-over-year for the first time since 2000. The company posted revenue of $212.7 million, up 3.2% from $206.0 million in 2003. Revenue grew 15% in the fourth quarter of 2004 to $54.4 million, from $47.3 million in the same period of 2003, although the comparison benefited from the movement of a key trade show to the fourth quarter in 2004 from the third quarter in 2003. Penton’s consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) improved to $33.2 million for 2004, an increase of 31.4% from $25.2 million in 2003. Nonetheless, industry observers say the company still faces obstacles such as long-term debt of $323.6 million as of February.

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