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ABM Sees Revenue Fall, But Some Former Members Return

Expenses drop for member services but jump for Washington representation.

Matt Kinsman By Matt Kinsman

American Business Media reported total revenue of $3.2 million for fiscal 2010 (ended June 30), down 41.8 percent from total revenue of $5.5 million in 2009. Membership dues drove much of the decline, falling from $3.4 million last year to just over $2 million this year.

However, the association says several former members returned to the fold over the past year, including Bloomberg, Cygnus, Quadrant HealthCom, DTN/The Progressive Farmer and SourceMedia.

The annual report says that ABM finished "near its breakeven budget for 2010." Operating income was about $90,000 before unbudgeted transition costs related to the departure of former CEO Gordon Hughes, and the search for a new CEO (ABM named Clark Pettit president and CEO in July). ABM says it saw a net gain of $109,000.

Expenses for member services dropped 41 percent from $3.4 million in fiscal 2010 to $2 million this year, while marketing spending dropped from $1.3 million last year to $333,785 in fiscal 2010. Spending on Washington representation grew 5 percent to $376,411, driven in part by the battle over the Postal Service's attempt to raise rates for 2011.

The annual report says ABM events were profitable in fiscal 2010, contributing $160,000 to the bottom line, with ABM's Spring Meeting generating $210,970, up from $195,625 in fiscal 2009.

Matt Kinsman By Matt Kinsman

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