SOURCE: Canon Communications

November 20, 2008 12:48 ET

Canon Communications Reports 23% Revenue Increase in FY2008

Company Reports Steady FY2009 Outlook Based on Advanced Manufacturing Focus

LOS ANGELES, CA--(Marketwire - November 20, 2008) - Canon Communications, the leading producer of trade events, publications and electronic media for the global $3 trillion advanced, technology-based manufacturing industry, today reported that revenues for the fiscal year ended September 30, 2008 rose 23% over FY2007. The company attributed half of the increase to operational growth with the balance coming as a result of strategic acquisitions, both in its Events and Publishing businesses. Canon is privately held and does not disclose full financial results.

Looking ahead at the next fiscal year, Chairman and CEO Charles G. McCurdy noted that a slowdown is expected because of wider economic concerns and because some of Canon's biannual trade shows will not be produced in 2009. "Even so," he added, "we continue to benefit from our focus on very dynamic advanced manufacturing markets in the U.S. and increasingly in Europe and Asia, in particular the medical device manufacturing sector, as well as the pharmaceutical development and production sector. These sectors have continued to experience healthy growth worldwide even as the general economy has been experiencing disruptions."

McCurdy gave the following highlights of activities in FY2008:

-- Overall revenues for the Events Division were up 30%, reflecting attendance and exhibitor gains at its traditional trade shows, the launch of new events like BIOMEDevice and MD&M Midwest, and the staging of the biennial PTXi show for process technologies. Events trends continue positive in fiscal 2009 beginning October 1, 2008.

-- Overall revenues for the Publishing Division grew 15%. Growth was led by a 47% increase in digital and data products revenue, which now totals 18% of divisional revenues. Key digital products launched in the last year include Plasticstoday.com, a comprehensive online resource for the plastics processing industries, as well as a redesign of Devicelink.com, the online community for the medical device design marketplace, which continued to grow at double digits. A strategic acquisition expanding Canon's presence in pharmaceutical development, production and marketing also contributed to growth.

-- Building on the success of both Events and Publishing, Canon created and is leveraging a Master Audience File of more than 800,000 names of advanced manufacturing managers and design engineers, drawn from attendees at its shows, readers of its magazines, visitors to its websites and recipients of e-newsletters.

McCurdy added, "Clearly, economic conditions in 2009 will present many challenges to Canon and other major B-to-B media companies. While I cannot easily predict what impact these challenges will have on the industry, I can say that Canon is well-established in its focus on the global advanced manufacturing segment, with its high-value-added manufacturing and essential products. We have plans for continued investment in Canon's future growth during the coming year, with expansion of existing product lines as well as product launches in areas that continue to experience growth, particularly medical device manufacturing. As a result, we anticipate continuing to lay the foundation for what could well be another very strong growth year in 2010."

About Canon Communications

Canon Communications LLC, a portfolio company of Apprise Media LLC, is the leading producer of trade events, publications, and electronic media for the $3 trillion advanced, technology-based manufacturing industry, including medical device, packaging, design engineering, process technology, automated assembly, electronics, quality control, and plastics processing.

Further information about Canon's business-to-business publications, trade shows, and digital media is available at www.cancom.com.

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