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Currency Lifts Pearson

Following their big news Thursday on the sale of the FT Group to Nikkei, Pearson reported half-year 2015 results on Friday morning. (Bloomberg gets detailed background on the FT sale process, and says that Nikkei's final bid -- £100 million more than Axel Springer's offer -- topped Pearson's own asking…

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Corporate: Scholastic Ends Year on a Flat Note; Bloomsbury Update

Scholastic reported fourth-quarter and full-year results on Thursday morning. With the recent quarter dominated by their by big EdTech sale to Houghton Mifflin Harcourt, sales from continuing operations were marginally below flat at $488 million, with operating income down 12 percent to $33.5 million (attributed primarily to foreign exchange impact…

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Back to the Basics At Barnes: What's Been Lost In the eBook Era?

On or about September 1 Barnes & Noble Inc. will return to its roots as a chain of retail bookstores, following the spinoff of Barnes & Noble Education and the nearly-complete winding down of the Nook experiment. So we thought it would be interesting to turn back the reporting clock and see…

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Foreign Exchange Holds Down Wiley Sales, As Book Sales Continue Decline

Wiley reported fourth quarter sales for the period ending April 30, with sales falling 3 percent to $442 million (down $15 million) on currency exchange, as half their sales come from the weaker pound and euro. Adjusted operating income of $63 million was flat for the quarter, and net income…

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Bloomsbury Edges Ahead

Bloomsbury reported results for their fiscal year ending February 28, rebounding from a weak first half to finish just above even: Sales of £111.1 million were up £1.6 million (due to acquisitions) and pre-tax profit nudged up by £100,000 to £9.6 million. The company adds that "since the year end, trading…

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Lagardere Publishing Rises On Weak Euro, But US Sales Decline Over 12 Percent

Lagardere reported first quarter sales, with the publishing unit rising overall on renewed strength in France and the weakness of the Euro, which works in their favor on US and UK book sales even as HBG USA and Hachette UK had weak quarters. That left unit sales of 421 euros…

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S&S Topline Falls On Lower Print Sales

First quarter sales at Simon & Schuster fell by $8 million (or 4.5 percent) to $145 million, the company's third consecutive quarterly revenue drop, as a result of "lower print book sales." OIBDA was flat at $13 million (with operating income up $1 million to $12 million), with lower selling and…

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Bertelsmann Profit Rises In First Quarter, As Attention Turns to Possible PRH Buyout

Bertelsmann issued a brief first quarter trading update (in the European style), with sales just above flat at €3.92 billion and operating EBITDA up 6.7 percent to €463 million (from €434 million a year ago). Net income rose to €143 million from €106 million last year. Though not mentioned in…

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Sales Rise at HMH and Company Increases Loan, Repurchase Targets

Houghton Mifflin Harcourt reported first quarter results Thursday morning, with sales of $163 million, up almost 6 percent from $154 million a year ago, "driven by higher education and trade publishing sales and the recognition of previously deferred revenue." The seasonal adjusted EBITDA loss of $52 million compares to a loss of $53 million a year ago, though…

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Harper Grows with Harlequin, But Core Comp Falls With Lower Divergent Sales

HarperCollins' parent company News Corp. reported third quarter fiscal year sales for the period ending March 31 after the close of the market on Tuesday. As you would expect overall sales rose at HarperCollins in the third quarter because the Harlequin acquisition makes them a bigger company, with sales of…

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