Penton Media reports slightly bigger net loss, higher revenue

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Cleveland--Penton Media reported a first-quarter net loss of $5.2 million, compared with a net loss of $5.1 million in the first quarter of 2003. Revenue totaled $54.5 million, up from $54.4 million in last year's first quarter.

Adjusted earnings before interest, taxes, depreciation, and amortization increased 18.7% to $11.1 million, from $9.3 million a year earlier.

The company said first-quarter operating results were helped by the Natural Products Expo West show. Penton said that quarterly results also were affected by a $2.4 million charge for executive separation costs and a restructuring charge of $900,000 primarily related to staff reductions.

Penton’s reporting of its first-quarter results was delayed as negotiations were under way over the terms of Penton Chairman-CEO Thomas L. Kemp’s departure. Kemp has agreed to stay on until a replacement is named.

--Sean Callahan

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