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Monday, August 15, 2005

Penton Financials, And China, Too 

Penton Media 2nd Quarter Results

Things look a little better for Penton in its new 10-Q, but that $9.3 million in quarterly interest expense is still pretty daunting. While revenues have dipped, due to discontinued operations and timing shifts, and continued softness in the advertising segment, adjusted segment EBITDA for the first six months is up over $3 million compared to the prior year. Net loss has been cut almost in half. Online media revenues continue to gain year-over-year.

The only way out continues to be to grow, which Penton seems to be doing in bits and pieces, with a few small acquisitions, and a new China publishing alliance with eMedia Asia, which is a joint venture of CMP Media and Global Sources, to launch Electronic Design-China. A shout out to my old friend Tom Morgan, Director of Penton Media's Electronics OEM Group, for putting this deal together.

It's worth reading through the 10-Q, linked above.

Usual disclaimer: I own some Penton stock, on which I've lost some money (on paper).

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