About Michael Cader

Michael Cader is the creator of Publishers Lunch and PublishersMarketplace.com
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As Expected, Pearson Falls

Joining the big wave of earnings reports was Pearson on Friday, with results for the first half of the year. Sales fell £131 million to £1.866 billion, down 7 percent overall (and down 11 percent on a currency neutral basis) -- "primarily due to the expected declines in assessment revenues…

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Simon & Schuster Sustains Profit Growth, On Lower Sales

Simon & Schuster's parent company CBS reported second quarter sales after the close of the market on Thursday, with publishing revenues falling 6 percent to $187 million (down from $199 million a year ago). But operating income grew by $1 million, up to $26 million, "as the revenue decline was…

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A Good Quarter for Amazon, With Media Sales Growing

Amazon reported second quarter results, with North American media sales of $2.928 billion up 12 percent (from $2.62 billion a year ago), as international media sales rose 9 percent $2.283 billion (from $2.094 billion a year ago). That's a total of $765 million lower than competitor Apple's just reported second-quarter…

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Lagardere Publishing Is Just Above Flat, Even with Perseus Sales

Lagardere reported results for the first half of the year on Thursday afternoon, with the book publishing group just above flat, recording sales of  €970 million (up €2 million) and flat EBIT at a relatively low €36 million for the period, even with the addition of the Perseus imprints. Acquired on…

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People, Etc.

At Macmillan, Nora Flaherty has been promoted to the expanded role of vp, client publisher sales and distribution. She will oversee the entire third-party distribution area including sales, operations, business development and distribution. Diana Gill will join Tor/Forge as executive editor. Previously she was executive editor at Berkley's Ace and Roc imprints. Amy…

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Apple Beats Low Expectations

Apple reported fiscal third quarter results on Tuesday afternoon, posting sales of $42.4 billion and earnings of $7.8 billion. While well below the comparable results from a year ago, investors were expecting a softer quarter; by slightly outperforming analysts' estimates, Apple's stock was up by close to 7 percent in after-hours…

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Hachette Reorganizes Sales Following Perseus Purchase

Hachette Book Group announced a reorganization of their sales department internally this week, following the Perseus acquisition but also influenced by "recent major changes in the retail/wholesale landscape." The company said the "changes will allow us to sell HBG's wide range of excellent books in the most effective ways, across the…

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Announcements: PRH Pairs with InstaFreebie, Amazon Gets Permission to Test Drone Functions In UK

The Random House Publishing Group has joined HarperCollins in working with InstaFreebie to promote pre-publication book excerpts. (Harper acquired The Midlist, a deals email newsletter run by InstaFreebie's parent company, last October.) InstaFreebie currently reaches approximately 300,000 consumers and delivers excerpts via email, providing optional social DRM -- which RHPG is using…

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AAP February Report Shows Consistent Digital Drop, Higher Returns

The AAP reported their monthly StatShot statistics for February. Per our long look at the reliability of these monthly tabulations, our monthly focus will be on the digital data. Adult ebook sales of $88 million were down $16.3 million compared to a year ago; children's ebook sales were $8.1 million, down from…

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Potter Helps Scholastic Again

Scholastic reported sales for their fiscal fourth quarter, ending May 31, of  $514 million, up 5 percent (or $26 million) from a year ago, "reflecting higher sales in all of the company's three segments - children's book publishing and distribution, education, and international." Operating income of $58.4 million was up from $33.5…

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