Advanstar Announces Preliminary First Quarter 2001 Results

Apr 27, 2001, 01:00 ET from Advanstar

    BOSTON, April 27 /PRNewswire/ -- Advanstar Communications Inc., a wholly
 owned subsidiary of Advanstar, Inc., announced today its preliminary financial
 results for the first quarter ended March 31, 2001.
     Revenue was $128.6 million for the quarter ended March 31, 2001 compared
 with $133.1 million for the first quarter 2000. Earnings before interest,
 taxes, depreciation and amortization ("EBITDA") was $44.8 million for the
 quarter compared with $43.8 million for the first quarter of last year.
     Pro forma adjusted revenue for the first quarter was $129.4 million
 compared with $127.1 million for the first quarter last year, a 1.8% increase.
 Pro forma adjusted EBITDA for the quarter increased 7.7% to $44.5 million
 compared with $41.3 million for the first quarter 2000. Pro forma adjusted
 results are adjusted for the effect of acquisitions and excludes non-cash
 stock option compensation expense. In addition, tradeshow timing may shift
 between quarters from one year to another. Therefore, the 2000 prior year
 results have been adjusted to shift events to the quarter in which the events
 were held in 2001.
     Chairman and CEO of Advanstar, Robert L. Krakoff said, "Our first quarter
 is our largest quarter of the year, and we are pleased with adjusted EBITDA
 growth over last year. The diversification of our portfolio among
 19 industries has been beneficial to our performance in the first quarter."
     The Company will hold an open first quarter conference call after the
 filing and release of its first quarter 10-Q report in mid May. Notice of the
 date and time of the call will be released at that time.
     Advanstar Communications Inc. produces 108 exhibitions and conferences,
 publishes 108 business magazines and directories, maintains 79 web sites, and
 provides direct mail and other marketing services to 19 industries, including
 fashion and apparel, travel and hospitality, specialty retail, healthcare,
 pharmaceutical, science, manufacturing and processing. The Company has over
 1,500 employees and operates from offices in the United States, Latin America,
 Europe and Asia.
 
     Contact:
     Michelle Mitchell
     440-891-2766
     mmitchell@advanstar.com
 
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SOURCE Advanstar
    BOSTON, April 27 /PRNewswire/ -- Advanstar Communications Inc., a wholly
 owned subsidiary of Advanstar, Inc., announced today its preliminary financial
 results for the first quarter ended March 31, 2001.
     Revenue was $128.6 million for the quarter ended March 31, 2001 compared
 with $133.1 million for the first quarter 2000. Earnings before interest,
 taxes, depreciation and amortization ("EBITDA") was $44.8 million for the
 quarter compared with $43.8 million for the first quarter of last year.
     Pro forma adjusted revenue for the first quarter was $129.4 million
 compared with $127.1 million for the first quarter last year, a 1.8% increase.
 Pro forma adjusted EBITDA for the quarter increased 7.7% to $44.5 million
 compared with $41.3 million for the first quarter 2000. Pro forma adjusted
 results are adjusted for the effect of acquisitions and excludes non-cash
 stock option compensation expense. In addition, tradeshow timing may shift
 between quarters from one year to another. Therefore, the 2000 prior year
 results have been adjusted to shift events to the quarter in which the events
 were held in 2001.
     Chairman and CEO of Advanstar, Robert L. Krakoff said, "Our first quarter
 is our largest quarter of the year, and we are pleased with adjusted EBITDA
 growth over last year. The diversification of our portfolio among
 19 industries has been beneficial to our performance in the first quarter."
     The Company will hold an open first quarter conference call after the
 filing and release of its first quarter 10-Q report in mid May. Notice of the
 date and time of the call will be released at that time.
     Advanstar Communications Inc. produces 108 exhibitions and conferences,
 publishes 108 business magazines and directories, maintains 79 web sites, and
 provides direct mail and other marketing services to 19 industries, including
 fashion and apparel, travel and hospitality, specialty retail, healthcare,
 pharmaceutical, science, manufacturing and processing. The Company has over
 1,500 employees and operates from offices in the United States, Latin America,
 Europe and Asia.
 
     Contact:
     Michelle Mitchell
     440-891-2766
     mmitchell@advanstar.com
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X72198871
 
 SOURCE  Advanstar