Penton reports lower revenue, narrower loss

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Cleveland—Penton Media Monday posted second-quarter revenue of $43.8 million, a decline of $2.3 million, or 5%, from the year-earlier period. Adjusting for timing shifts of three conferences and two print products and the discontinuation of four products, revenue increased 1.9% from last year’s second quarter.

Online revenue grew 10% in the second quarter.

Penton reported a net loss of $5.8 million, compared with $15.2 million in last year’s second quarter. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) grew nearly 70%—or 106% after adjusting for the timing shifts and discontinued products

In other news, Penton announced it has formed a strategic alliance with eMedia Asia, a joint venture between Global Sources and CMP Media, to introduce Electronic Design-China.

The monthly magazine, which will debut next March, is described as a “simplified Chinese edition of Penton’s leading electronics magazine, Electronic Design.” The companies said the new magazine will provide the latest technology and application methodologies to about 40,000 engineering executives in mainland China.

—Carol Krol

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