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Advanstar Communications Inc (1062771) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2005

Advanstar Communications Inc

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CIK: 1062771

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

ADVANSTAR REPORTS FOURTH QUARTER AND FULL YEAR 2005 RESULTS

 

New York, NY – March 9, 2006 - Advanstar Communications Inc. (“Advanstar”), a leading worldwide media company providing integrated marketing solutions for the Fashion, Life Sciences, and Powersports industries, today reported operating results for the fourth quarter and full year ended December 31, 2005.

 

2005 Overview

 

Advanstar’s results for 2005 reflect the launch of several growth initiatives and the implementation of a corporate and portfolio restructuring which began in the first half of the year.

 

Joe Loggia, President and CEO of Advanstar said, “2005 was an exciting year for Advanstar. We successfully completed a major transaction to dispose of non-core assets and operations. This move solidified our strategy of focusing on key industry sectors where we can leverage our leading market positions, in depth customer relationships and experienced teams for continued growth. The transaction also enabled us to substantially reduce our debt.

 

“We completed five strategic acquisitions in the fashion and powersports sectors which, combined with ongoing investments in our properties and new initiatives, are helping to accelerate our growth. Our performance in the fourth quarter reinforced the effectiveness of our strategy.

 

“Our commitment to delivering quality products that meet our customers’ needs enabled us to achieve solid revenue gains for both the fourth quarter and the year. In addition, our substantial improvement in operating income is testament to our ability to drive operating efficiencies and generate cost savings through our restructuring activities. We remain focused on the key elements of our business strategy and believe the accomplishments in the past year provide a strong foundation for 2006 and beyond.”

 

The following table summarizes Advanstar’s performance for the fourth quarter and full year ended December 31, 2005 and 2004:

 

 

 

Quarter Ended

 

 

 

Year Ended

 

 

 

 

 

December 31,

 

%

 

December 31,

 

%

 

(in thousands of dollars)

 

2005

 

2004

 

Change

 

2005

 

2004

 

Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

56,660

 

$

50,739

 

12

%

$

288,913

 

$

270,412

 

7

%

Operating income

 

(3,669

)

(8,290

)

56

%

36,772

 

27,456

 

34

%

Net income (loss)

 

(18,285

)

(29,634

)

38

%

8,575

 

(51,163

)

117

%

Operating cash flow

 

12,912

 

6,473

 

99

%

8,908

 

18,286

 

-51

%

EBITDA (1)

 

5,685

 

3,180

 

79

%

74,527

 

70,080

 

6

%

 

The following information was filed by Advanstar Communications Inc on Thursday, March 9, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1062771
Form Type: 10-K Annual Report
Accession Number: 0001104659-06-020634
Submitted to the SEC: Thu Mar 30 2006 4:18:08 PM EST
Accepted by the SEC: Thu Mar 30 2006
Period: Saturday, December 31, 2005
Industry: Business Services

External Resources:
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