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ZIFF DAVIS REPORTS $295 MILLION LOSS

Restructuring Charges Add to Troubled Publisher's Woes

By Published on . 0

NEW YORK (AdAge.com) -- Ziff Davis, the troubled tech publisher, reported a net loss of $295.9 million for the quarter ended Dec. 31.

One reason for the loss was a restructuring charge of $252 million, related largely to the closing of Smart Partner and folding Interactive Week into eWeek.

Revenues for

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the company fell 41.2%, to $73.9 million, and the company posted a loss in Ebitda -- earnings before taxes, interest, depreciation and amortization -- of $4.5 million, compared with a positive Ebitda of $19.1 million for the comparable quarter in 2000.

For the nine months ended Dec. 31, including restructuring charges, revenues were down 36.4% to 224.6 million and the net loss was $415.7 million.

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