It was another quarter of good news and bad news at Ziff-Davis. The companies Established Businesses segment, which includes PC Magazine, was $36.1 million, down 8.4% compared to $39.4 million in the
same period last year. The decrease was primarily due to the weak technology advertising market and related pricing pressure. The Developing Businesses segment is comprised of two recently launched
publications and the Company's Internet operations. Saw revenue increase from $1.5 million in Q3 2001 to $4.6 million this year. The increase in revenue primarily relates to increased advertising
revenue for Baseline and for the Company's Internet properties.
