• by John Gaffney , July 17, 2002

Nothin’ But The Facts: I get lost in the alphabet soup of financial reports sometimes. EBITDA to me is something my two-year old says when he wants pizza. I have found one magazine company that is trying to state its results in a relevant way. The company is Ziff Davis. It has split its financial quarterly reporting into two areas – an established business segment (like PC Magazine) and a developing business segment (like the Microsoft Watch newsletter). So what you get is a bit more in depth look at the companies’ strategy. You also find out that revenue tanked from $75 to $47 million for the quarter at the established business section but rose from $6 million to $9.2 million for new business. For a company like Ziff, which is struggling to recast itself amid the tech depression, it shows investors some daylight. But it’s also useful for media planners. When a new property starts in this economy your biggest concern is that it won’t last. This kind of reporting gives you some clue as to whether ZD’s new ventures are economically feasible. Much better than EBITDA.

Sex And The City Newspaper: Editor and Publisher reports this week that several dailies, including the Chicago Sun-Times and the Dallas Morning News are loosening their standards on adult advertising. Hey, I know times are tough, but once you cross that line the reader needs to consider whether that newspaper you left on the kitchen table might be inappropriate for kids. Bad move.

Apple Scruffs: Despite brilliant advertising, Apple is set for a tough year. When your CFO calls quarterly earnings “surprising and disappointing” that’s not a good thing. I still feel that the current “I’ve switched” campaign, which pits Macs against PCs is the right move for the company, even in a shrinking market. It injects some passion in a category that needs some.