Montvale, NJ, July 25, 2002 - SYS-CON Media (www.sys-con.com) the world's leading i-technology media company, announced today a revenue increase of 22% for the first half of 2002 ended June 30, and adjusted EBITDA increase of 38%, compared with the same period in 2001.
Since its inception, SYS-CON has realized an impressive growth rate. From 1998 to 2001, revenue grew at a compound annual growth rate of 72.9%. For the same period, gross margin increased at a CAGR of 75.7%. In 2001, the company's annual revenues increased 33.6% from 2000. This year the company projects another 9.5% annual revenue growth with an adjusted EBITDA increase of 36.1% from 2001. Financial information for 1999-2001 has been audited by the company's outside accounting firm.
"SYS-CON Media is the only company in the business-to-business media space that has delivered an impressive growth and profits during the past two challenging years," said Fuat Kircaali, founder and CEO of SYS-CON Media. "Since our company's inception in 1994, we have achieved a consistent organic growth that has made SYS-CON the world's leading i-technology publisher serving developer markets worldwide. During this period, our growth reached targeted levels due to our strategic positioning in the niche i-technology space, our undivided focus on customer satisfaction and our unmatched value programs we offer to our advertising partners."
Next year, SYS-CON plans to add six new i-technology magazines to its current portfolio of eight publications, all leading titles in the markets they serve. In 2003, total revenue is forecast to increase 40.9% from 2002 with an estimated 51.9% increase in gross margin and 111.6% increase in adjusted EBITDA.
SYS-CON Events, Inc. is one of the world's leading producer of i-technology developer conferences and expositions. SYS-CON Events' upcoming developer conference calendar includes: Web Services Edge 2002 West - International Web Services Conference & Expo, colocated with JDJEdge 2002 West - International Java Developer Conference & Expo, XMLEdge 2002 West - International XML Conference & Expo, and Wireless Edge 2002 - International Wireless Business & Technology Conference & Expo, to take place October 1-3 at San Jose Convention Center in California.
Each month SYS-CON Media reaches over half a million i-technology professionals through its specialty journals, magazines, books, conferences, and the SYS-CON interactive portal with its 87 Web sites at www.sys-con.com.
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