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Penton Media Reduces Profit, Revenue Forecast
Penton Media (PME Quote) lowered its revenue and earnings outlook for the first quarter and full year because of soft advertising and setbacks at some of its publishing and tradeshow properties.
The company, which publishes mostly trade magazines, now expects to earn between 2 cents and 5 cents a share in the quarter. Six analysts polled by Thomson Financial/First Call expected, on average, a profit of 7 cents a share. The company earned a penny a share in the year-ago quarter. ...
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