Primedia’s Second Quarter Revenues, Income Decrease Slightly
Primedia Thursday announced second quarter revenues of $253.5 million, a decrease of 0.8 percent over last year’s second quarter revenues of $255.6 million. Its total revenue for the first six months of the year, however, was up 2.1 percent to $500.4 million, from $490.1 million in the first six months of 2005.
The company’s operating income in the second quarter decreased 24.7 percent to $28.9 million from $38.4 million in the same period a year earlier. Operating income for the first six months of the year was $50.3 million, down from $62.7 million in the first six months of last year, a decrease of 19.8 percent.
The company experienced drops in both its Enthusiast Media and Education segments in the second quarter. Revenue in its consumer segment, however, grew slightly to $81.3 million, up 2.3 percent from $79.5 million a year earlier. The company’s Enthusiast Media segment generated $307.8 million in revenue for the first six months of the year, up 3.4 percent from a year earlier. Its Consumer segment revenue increased 4.9 percent for the first six months of the year to $162.7 million. But Education segment revenue dropped 19.6 percent to $30 million.