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Thursday, November 10, 2005

Advanstar: "The Process is Moving Forward as Expected" 

During today's Advanstar earnings conference call, president and CEO Joe Loggia made only passing reference to the possible sale of the company: "We are in the process of exploring strategic alternatives, including a possible sale," he said, noting that it was too early to comment. He did add, however, that "We're evaluating a number of options, and the process is moving forward as expected."

Pretty docile conference call, at least as far as questions (only one was asked). As Loggia noted, "We had a very good quarter."

Interested info nuggets:

1) The company expects annualized cost savings from its corporate restructuring to be $9 million, with full implementation of the restructuring expected by Q1 2006.

2) The company's acquisition cost of the Pool and Project fashion events was $13 million, and there's also a performance back end. These events contributed $950,000 in the quarter.

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