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|Subject: Earning was out June 2||Date: 6/15/1998 7:05 PM|
|Author: GreatAnalyzer||Number: 33 of 371|
Ziff-Davis Inc. Announces First Quarter Results
PR Newswire, Tuesday, June 02, 1998 at 09:42
NEW YORK, June 2 /PRNewswire/ -- Ziff-Davis Inc. (NYSE:ZD) today
announced financial results for its first quarter ended March 31, 1998.
Revenue for the first quarter of 1998 was $228.1 million compared to
$224.9 million for the first quarter of 1997. Excluding the impact of
transferring certain publications to a joint venture, publishing segment
revenue improved $4.1 million or 2.1%. The improvement was due to growth in
advertising in the Internet business, principally ZDNet, and consumer
publications, which was partly offset by lower advertising in business
publications. In October 1997, Ziff-Davis transferred its Macuser and MacWeek
magazines to form a 50/50 joint venture with another publishing company.
These publications contributed $12.8 million of revenue in the first quarter
of 1997 but are no longer consolidated in the Company's results for 1998.
Advertising revenue was lower in the business publications principally due to
factors affecting the computer technology industry during the period.