Sales and earnings fell again in the fourth quarter for Harlequin, continuing a pattern of quarterly and annual declines. Sales of $95 million (CA) for the fourth quarter were down $10 million from a year ago, with EBITDA of $11.5 million (compared to $16.8 million last year). Most of the sales drop was in North America, blamed on ebook price wars, as “digital revenues in North America were believed to be negatively affected by increased discounts being offered on digital sales of other publishers’ bestselling titles.” For the full year, sales of $398 million were down 6.75 percent and EBITDA […]
