Tuesday, May 16, 2006
Penton's Q1
Form 10-Q for PENTON MEDIA INC.
Penton's Q1 results have been posted (see link, above). Revenues grew 1.8% to $54.3 million over the same period last year; net income shot up 201.1% to $5.46 million, and adjusted EBITDA rose 11.1% to $17.2 million.
There were some timing shifts in the events category which moved about $1.6 million in revenues from three conferences from the first quarter to the second quarter, but even so, events revenues were up 5.3% over the prior year, primarily due to improvements in Penton's Expo West event, which set attendance and exhibit sales records this past March.
Publishing revenues declined 2.7%, but this decline was offset by a 24.1% increase in online revenues, which clocked in at $5.1 million for the quarter.
I continue to be impressed with Penton's progress in the online revenues area--which now accounts for a hair under 10% of total revenues. (By comparison, Advanstar's online revenues for 2005 were about 1.2% of revenues, though this proportion whould be increasing this year.)
For more on the valuation of Penton, of which I own some shares, see this post, and make sure to read the comments area as well, where former Penton CEO Tom Kemp provides an alternative read on the valuation situation.
Comments
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Penton's Q1 results have been posted (see link, above). Revenues grew 1.8% to $54.3 million over the same period last year; net income shot up 201.1% to $5.46 million, and adjusted EBITDA rose 11.1% to $17.2 million.
There were some timing shifts in the events category which moved about $1.6 million in revenues from three conferences from the first quarter to the second quarter, but even so, events revenues were up 5.3% over the prior year, primarily due to improvements in Penton's Expo West event, which set attendance and exhibit sales records this past March.
Publishing revenues declined 2.7%, but this decline was offset by a 24.1% increase in online revenues, which clocked in at $5.1 million for the quarter.
I continue to be impressed with Penton's progress in the online revenues area--which now accounts for a hair under 10% of total revenues. (By comparison, Advanstar's online revenues for 2005 were about 1.2% of revenues, though this proportion whould be increasing this year.)
For more on the valuation of Penton, of which I own some shares, see this post, and make sure to read the comments area as well, where former Penton CEO Tom Kemp provides an alternative read on the valuation situation.
