Earnings: Primedia Reverses Net Loss In Q2, But Ad Revenue Struggles

Having closed the $1.2 billion sale of its Enthusiast media division to Source Interlink a day earlier, Primedia (NYSE: PRM) reversed its net income loss from last year to come in at $7.6 million in Q2. In Q206, the company posted a $2.1 million loss a year ago. Total revenue was up marginally .4 percent to $81.6 million from $81.3 million. Ad revenue for the quarter declined .4 percent, sliding from Q206’s $67.3 million to $67 million. That area was offset by other revenue of $14.6 million in Q2, up 4.3 percent from $14 million last year. Primedia’s other Q2 results included:

— The Apartments unit (including Apartment Guide, ApartmentGuide.com, and Rentals.com), which represents 76 percent Q2 ad, fell .5 percent.

— Auto Guide and Autoguide.com, which comprises 5 percent Q2 ad revenue, experienced a 32 percent revenue decline, in part due to exiting the San Diego market in Q306. Earnings release (PDF) | Webcast

Comments have been disabled for this post