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Penton reports record 4Q, annual revenue

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Cleveland--Penton Media reported record revenue in the fourth quarter of 1999 and for the year. The company reported revenue from continuing operations of $105.1 million for the fourth quarter, compared with $62.1 million in the year-earlier period, a 69.2% gain. The company reported revenue from continuing operations for 1999 of $300.8 million, compared with $207.7 million in 1998, a $44.8% gain. Including extraordinary events, Penton reported net income of 51 cents a share, or $16 million, in the fourth quarter, compared with 12 cents a share, or $2.7 million, in the year-earlier period. The company reported net income of 29 cents a share, or $8.2 million, in 1999, compared with 50 cents a share, or $10.9 million, in 1998. Penton sold its printing business in 1999, while buying a number of trade shows, including Nutracon.
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