Ziff reports strong 4Q results

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New York--Long-struggling tech publisher Ziff Davis Media reported Wednesday its best quarterly results since December 2000.

The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $13.1 million for the fourth quarter of 2002, compared with a $4.5 million EBITDA loss in the fourth quarter of 2001.

Despite improved bottom-line results, Ziff Davis struggled with top-line performance as its revenue contracted to $56.3 million, down from $71.3 million in the fourth quarter of 2001.

The company reported EBITDA of $8.0 million for the full year of 2002, compared with an EBITDA loss of $44.3 million in 2001. Revenue declined to $209.0 million, from $300.1 million in 2001.

Among the highlights for the company were Baseline magazine, which increased ad pages by 58% in the fourth quarter, compared with the same period in 2001. Additionally, the company said CIO Insight magazine increased ad pages in 2002 to 468 from 270 in 2001.

--Sean Callahan

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