Advanstar revenue up 4% in first quarter

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New York—Advanstar Communications reported Tuesday that its first quarter revenue increased 4% to $110.7 million, from $106.6 million in the year-earlier period. The increase was largely attributed to 10% growth in its Fashion & Licensing portfolio and 4% growth in its Powersports & Automotive segment. The gains were partially offset by a 5% decline in its Life Sciences segment. First quarter results include a restructuring charge of $2.4 million related to the relocation of the company’s New York office.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) rose 9% to $45.3 million, from $41.7 million in the first quarter of 2006. Advanstar’s latest financial report comes a little more than a month after private equity firm Veronis Suhler Stevenson said it had agreed to acquire the media company for $1.1 billion from private equity fund DLJ Merchant Banking Partners III. The deal is expected to close soon.

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