Advanstar reports higher revenue, larger loss

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New York—Advanstar Communications reported Thursday that revenue from continuing operations in 2004 increased 23.2% to $378.1 million, from $306.8 million in 2003. EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations increased 16.0% to $91.5 million, from $78.9 million in 2003. Advanstar’s net loss for 2004 was $51.2 million, compared with a net loss of $49.4 million in 2003. The net loss for 2004 included a $9.7 million loss from discontinued operations related to the sale of Advanstar’s art trade show and publications business and joint venture trade shows in France and Germany.

Advanstar said its interest expense increased $12.3 million in 2004 as a result of the company’s debt refinancing and financings related to the acquisition of health care properties from Thomson Corp. in 2003.

—Sean Callahan

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