Ziff Davis narrows loss

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New York--Ziff Davis Holdings Inc., the parent company of Ziff Davis Media Inc., reported Wednesday a second-quarter net loss of $2.3 million, compared with a net loss of $45.7 million a year earlier.

Consolidated revenues totaled $47.1 million compared to $56.8 million, which included revenue from closed titles, in the same period of 2002. Ziff Davis said much of the decrease in revenue was due to continued softness in the b-to-b tech market and “related pricing pressure.”

The loss narrowed because of sharply reduced operating expenses in this year's second quarter and a $14.1 million write down of intangible assets in the second quarter of last year.

Earnings before interest, taxes, depreciation, amortization (EBITDA) and non-recurring charges of $9.0 million for this year's second quarter compared with an EBITDA loss of $500,000 a year earlier.

--Sean Callahan

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