Penton reaffirms projections for 2001

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Cleveland--Penton Media Inc. Monday reaffirmed its guidance to analysts regarding its fourth-quarter 2001 revenue, expected to be between $90 million and $95 million, and its revenue projections for the year, between $370 million and $375 million. The company also said it anticipates that 2002 revenue will be in the range of $320 million to $350 million, significantly less than in 2001. “We are preparing for a continuation of difficult business conditions through much of 2002, with a modest recovery in the second half of the year,” said Thomas L. Kemp, Penton’s chairman-CEO, in a statement. Penton’s price per share fell nearly 7% on the news, from $6.55 to $6.20, well below its 52-week high of $26.69.
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