Crediting its digital businesses, Ziff Davis reported that 4Q earnings before taxes and interest rose 70 percent to $14.3 compared to $8.4 million for the same period a year ago.
Earnings in the digital businesses alone gained 144 percent for the quarter. The company said that the closing of Sync and ExtremeTech magazines saved the company $5 million in production costs. Other highlights:
-- Consolidated 4Q revenues totaled $56.7 million. Excluding revenue from the two closed publications revenue increased nearly 6 percent or $2.8 million year-over-year. With the two former magazines included, however, consolidated revenues were down 2 percent when compared to a year ago.
-- The company’s 4Q digital revenues were up 24 percent, while print revenues, excluding the closed publications, fell 8 percent.
-- For the year, digital revenues increased by 25 percent versus 2005, while print revenues, excluding the closed publications, decreased by 11 percent compared to a year ago.
-- For the full year, earnings before taxes and interest increased to $27.1 million, a 57 percent improvement compared to $17.3 million in 2005.
-- Consolidated revenues for the full year 2006 totaled $181.0 million. Not counting the two shuttered publications, revenue from closed publications, revenues gained 2 percent or $3.7 million compared to the prior year, while 2006 revenue was down 4 percent when those magazines are factored in. Earnings Release