Key3Media Lowers Its Revenue Forecast

Key3Media Group Inc., a producer of information-technology trade shows and conferences, said full-year revenue won’t meet its earlier forecast of $325 million to $335 million because of reduced spending by businesses that use its services. The Los Angeles-based company now expects revenue of $305 million to $320 million for the year, compared with $286.9 million the previous year. For the second quarter, revenue will be $120 million to $125 million, compared with $93.9 million a year ago, it said. Key3Media organizes 60 events in 18 countries. Shares of Key3Media, which is majority-owned by Softbank Corp., fell 30 cents to close at $9.85 on the New York Stock Exchange.