Earnings: Primedia Q4 Revs Grow 3 Percent; Digital Apartments Sites Up

Guide and directory publisher Primedia (NYSE: PRM) has reported Q4 revenue of $79.1 million, a 3 percent increase over $76.8 million in the year-ago period. Net losses grew to $16.5 million from $13.8 million, although this quarter included a $21.2 million loss on a discontinued operation. Op income was up 11 percent to $12.6 million. The Apartments business, which includes Apartment Guide, ApartmentGuide.com and Rentals.com, was up 2.6 percent to $52 million, which is 80 percent of the company’s business. Online, not surprisingly, was stronger than print although exact details aren’t broken out. The New Homes side, representing 20 percent of the business, was up .8 percent to 12.6 million. Expansion into new markets offset real estate weakness.

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