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BtoB

IT trade show company Key3Media reports weak 2001 results

Published on .

Los Angeles--Key3Media Group, a producer of IT trade shows and conferences, Friday reported a loss of $21.4 million for 2001, compared with earnings of $8.6 million the previous year. The company cited difficult economic conditions, a soft IT sector and the Sept. 11 attacks for its financial downturn. Revenue for 2001 was $252 million, down 12% from 2000. In the fourth quarter, Key3Media lost $1.2 million on sales of $77.2 million, compared with earnings of $9.3 million on revenue of $111 million a year earlier. The company noted that the results aren't directly comparable because it moved its 2001 NetWorld+Interop/Paris show to the third quarter after having held it in the fourth quarter in 2000.
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