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Another Decline in Sales and Profits for Harper in Second Quarter

HarperCollins reported sales for their fiscal second quarter, ending December 31. Total revenues declined $23 million, or 5 percent to $446 million for the quarter, while EBITDA dropped 26 percent to $57 million (compared to $77 million a year ago). The company blamed "lower e-book sales, negative foreign currency fluctuations and…

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Google Rises on Strong Earnings Report

Google's new parent company Alphabet reported fourth quarter earnings after the close of the market on Monday. The company exceeded investors' expectations, reporting sales of $21.3 billion and net income of $4.9 billion (or $7.16 a share). The stock rose more than 4 percent in early Tuesday trading on the news, which brings…

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Pearson to Cut 4,000 Jobs, Reduces Forecasts

After first surprising markets by reducing their sales and profit expectations last October, on Thursday morning Pearson ceo John Fallon admitted "that the cyclical and policy related challenges in our biggest markets have been more pronounced and persisted for longer than anticipated." Another round of restructuring and reorganization is expected to eliminate…

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Scholastic Reduces Guidance After Down Quarter; Will Buy Back $200 Million In Shares

Scholastic reported fiscal second quarter results on Thursday, with sales falling $9.3 million to $601.8 million, and earnings from continuing operations declining to $1.85 a share, compared to $2.02 a year ago. Operating profit of $105.1 million was down 5 percent versus last year. The strong US dollar cost the company $17.2 million…

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Wiley Revenue Decline Continues in Q2

Wiley reported second quarter sales for the period ending October 31, with sales falling 5 percent to $433 million (down $44 million) on currency exchange. Adjusted operating income of $64 million was down 13 percent for the quarter, and net income was down $8 million (or 11 percent) to $45.9…

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Books-A-Million Flat On Slightly Higher Comps

Still a publicly-traded company for now, Books-a-Million reported third quarter results on Tuesday afternoon. Sales of $101.6 million were $400,000 ahead of sales from a year ago, with same-store sales up 1.6 percent. But the company's loss was slightly higher, by $200,000, at $7.1 million or 50 cents a share. The company attributed that…

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Lagardere Gains On Currency As HBG USA Waits for Fourth Quarter

Lagardere reported third quarter sales on Tuesday, with the publishing division growing 2 percent on a like-for-like basis and 7.4 percent overall -- thanks to a still surging dollar and strong UK pound -- at  €607 million, up  €43 million from a year ago. Foreign exchange accounted for €32 million of…

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Another Soft Quarter for Harper As Profits Are Hit, Even with WATCHMAN

HarperCollins reported sales for their fiscal first quarter, ending September 30. Total revenues rose $3 million, or 1 percent to $406 million for the quarter, while EBITDA dropped 24 percent to $42 million (compared to $55 million a year ago). But "adjusted" revenues, setting aside the addition of Harlequin (which…

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HMH Stumbles On Soft Education Market

Houghton Mifflin Harcourt reported a difficult third quarter and reduced their expectations for the full year. Sales were up $25 million to $576 million for the quarter -- but that include $82 million from the recently-acquired EdTech business they bought from Scholastic. Without that addition, sales would have been down…

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Quarterly Briefs: Continued Improvement For Indigo; Quarto Stays Flat

Canada's Indigo reported second quarter results on Tuesday, with sales rising $16.7 million (CA), or 8.8 percent, to $206 million, and a reduced net loss of $1.8 million, compared to a loss of $8.5 million a year ago. As in the previous year, "revenue growth was driven by the continued…

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