Advanstar revenue increased 12% in 2006; EBITDA up 17%

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New York—Advanstar Communications reported Monday that its 2006 revenue rose 12% to $323.7 million, from $288.9 million in 2005. The increase was largely attributed to 23% growth in its fashion & licensing segment, 13% growth in its power sports unit and 6% growth in its life sciences unit.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) grew 17% to $94 million, from $80 million in 2005.

Fourth-quarter revenue rose 9% to $61.9 million, from $56.7 million. Adjusted EBITDA grew 9% to $61.9 million, from $56.7 million in the same period in 2005. The increase was primarily due to 10% growth in both the power sports and life sciences segments.

Last week private equity firm Veronis Suhler Stevenson said it had agreed to acquire Advanstar, for $1.1 billion, from private equity fund DLJ Merchant Banking Partners III. The deal is expected to close in May or early June.

—Matthew Schwartz

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