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Profits Rise at Bloomsbury

by on May 21, 2013 in Earnings Reports, International News, Publishers

Bloomsbury finished their fiscal year ending February 28 well, riding digital growth to pre-tax profit of £9.8 million (up 16 percent), even as sales only nudged up $1.1 million to £98.5 million from continuing operations. Underlying sales -- excluding the Fairchild Books and Applied Visual Arts acquisitions from during the…

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Lagardere Publishing Rises On Strong Quarter In US and France

by on May 14, 2013 in Earnings Reports, Publishers

Lagardere Publishing rebounded in the first quarter of 2013, with sales of 419 million euros up 6.6 percent (or 25 million euros) on a topline basis, and up 7.9 percent according to the company's like-for-like comparison. Hachette Book Group USA was a bright spot (following a soft holiday quarter to…

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After Layoffs and A Big Writedown, Cengage Talks Openly About Chapter 11

by on May 13, 2013 in Earnings Reports, Finance, Publishers

Cengage continues its slow march to the inevitable restructuring that has loomed for a while, and for the first time management has openly (and casually) talked about bankruptcy reorganization. The main questions now are who will lead that bankruptcy plan, can they organize a pre-packaged plan, and which private equity…

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Acquisitions Help HMH Trade

by on May 10, 2013 in Earnings Reports, Publishers

Houghton Mifflin Harcourt reported results for the first quarter of 2013, with the trade unit continuing the upswing from the end of 2012, driven by the acquisition of the Wiley culinary titles "as well as general interest and young readers titles." HMH Trade sales of $39.8 million were up 25…

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Another Opaque Quarter for Harper With News Corp Spinoff Closer to Completion

by on May 8, 2013 in Earnings Reports, Publishers

News Corp. reported third quarter earnings after the close of the market Wednesday and once again the company disclosed nothing in particular about HarperCollins. Notably, this time around it didn't even merit an adjective. (Harper itself characterized the previous quarters as "favorable": before that, it was "solid," "challenging," and "terrific" --…

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Harlequin Cuts Jobs On Weak Quarter; Authors Appeal Royalty Lawsuit

by on May 8, 2013 in Earnings Reports, Legal, Publishers

Harlequin sales fell 4 percent in the first quarter, down $4 million to $102.5 million (CA) , with operating profit declining 27 percent to $14.9 million, falling $5.6 million in the period. Parent company Torstar had a similar weak overall quarter, and announced further restructuring in both the book publishing…

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Simon & Schuster Overcomes BN Issues with Rising Profits and Small Sales Drop

by on May 1, 2013 in Earnings Reports, Publishers

Barnes & Noble's negotiations with Simon & Schuster over terms continues unresolved, but the publisher's first quarter results did not appear to suffer measurably as a result. Like the prior two quarters, sales fell but profits rose for S&S: At $171 million, sales declined by $5 million or less than 3…

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Courier Acquires FastPencil

by on April 30, 2013 in Earnings Reports, eNews, Finance, Publishers

Self-publishing platform FastPencil has been acquired by printer and publisher Courier. The news was announced after the close of the market on Tuesday, and just ahead of Courier reporting second quarter earnings on Wednesday morning. The terms were not disclosed for now, but for Courier -- with roughly $260 million…

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McGraw-Hill's Final Report on Education

by on April 30, 2013 in Earnings Reports, Publishers

McGraw-Hill reported first quarter 2013 earnings, following the sale of their education business for $2.4 billion on March 22. The education results are covered only briefly, as a discontinued operation. They booked a net gain of $612 million on the sale of the business, and reported net income for the…

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Pearson Starts Well; Quarto Is Up In the US and Down Overall

by on April 26, 2013 in Earnings Reports, International News, Publishers

In a short first quarter trading update ahead of their annual meeting--in the British style--Pearson said overall sales were £1.2 billion, up 3 percent at constant exchange rates and 4 percent overall (but down slightly on an underlying basis). Penguin "has had a good start to the year with market…

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