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Advanstar Financial Performance Improves

November 5, 2004
Filed under Features

Advanstar Communications Inc., parent company of DealerNews magazine and the industry’s largest annual trade show, the Dealer Expo, has reported improved financial performance for the third quarter and nine months ended Sept. 30, 2004. However, Advanstar reported a loss for the third quarter and nine months ended Sept. 30, 2004.
Revenue in the third quarter increased 35.2% to $99.8 million from $73.8 million in the third quarter of 2003. Operating income in the third quarter of 2004 increased $7.9 million, or 79.6%, to $17.8 million from $9.9 million in the third quarter last year. Loss from continuing operations in the third quarter of 2004 declined $14.6 million, or 81.8%, to $3.2 million from $17.8 million in the third quarter last year. Net loss in the third quarter of 2004 was $9.8 million, which includes a $6.6 million loss from discontinued operations related to the sale of its German trade show business, compared to a net loss of $18.1 million in the third quarter of 2003.
Results in the third quarter of 2004 have been improved by the acquisition of the Thomson Healthcare properties completed in October 2003.
For the first nine months of 2004, revenue increased 30.6% to $304.3 million from $233.1 million in the first nine months of 2003. Operating income in the first nine months of 2004 improved $17.2 million, or 52.4%, to $50.0 million from $32.8 million in the first nine months of 2003. Results from continuing operations improved 39.7% to a loss of $11.9 million in the first nine months of 2004 from a loss of $19.7 million for the same period last year. Net loss in the first nine months of 2004 was $21.5 million, which includes a $9.6 million loss from discontinued operations related to the sale of several operations, compared to a net loss of $16.8 million in the same period of 2003. Results in the first nine months of 2004 reflect the acquisition of the Thomson Healthcare properties completed in October 2003.
Based in New York, NY, Advanstar Communications is an international business operation that has 76 business magazines and 21 directories, 58 tradeshows and 36 conferences, numerous Web sites, and a wide range of print and electronic direct marketing.

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