Bertelsmann reported annual results this morning in Germany, with sales at Random House falling 6.3 percent for the year, to 1.721 billion euros, as EBIT fell even more, down 21 percent at 137 million euros. (After the first six months of the year, Random had been down almost 8 percent in sales and nearly 30 percent in EBIT.) The company says the drops are “primarily due to negative exchange rate effects,” insisting that “adjusted for these and for acquisitions, revenues remained stable.” But those sales are the lowest recorded in the past seven years (during which the company has made […]
