Primedia posts higher revenue

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New York—Primedia announced Thursday that it generated $342.2 million in revenue in the second quarter, up 0.9% from the year-earlier period, thanks in part to the first top-line growth in the company’s business information segment in 12 quarters.

Operating income was $45.9 million, up from $32.4 million in last year’s second quarter.

Primedia’s loss applicable to common shareholders was $3.6 million, compared with income of $73.3 million a year earlier. Results for the second quarter of 2003 were aided by the sale of Seventeen and related teen properties, which resulted in a one-time gain of $104.3 million.

In this year’s second quarter, Primedia’s business information segment recorded revenue of $58.2 million, a gain of 0.5% over the same period last year. The unit’s earnings before interest, taxes, depreciation and amortization increased 27.5% to $10.2 million. Online revenue for the unit increased 57%.

—Sean Callahan

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