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Pearson "Completed Our Intense Two Year Restructuring"; Names PRH's Williams CFO

Pearson announced preliminary annual results Friday morning, with sales of £4.874 billion down 4 percent (but up 2 percent on a constant-exchange-rate basis) and higher operating profit of £720 million -- with lower restructuring charges but a higher tax rate, leaving  earnings down to 66.7 pence per share, compared to 70.1…

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Trade Rebounds In Houghton's Fourth Quarter

Helped by publication of bestselling What If, Houghton Mifflin Harcourt's modest trade division saw sales rise in the fourth quarter to $48 million, up $2 million from a year ago, as the unit recorded a small net gain for the period ($500,000), compared to a small net loss a year ago. Adjusted EBITDA…

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Simon & Schuster Sales Fall for Fourth Quarter and Full Year

Fourth quarter sales at Simon & Schuster fell by $10 million (or 4.5 percent) to $215 million. The second consecutive quarterly drop left the company $31 million below 2013's sales, down 4 percent to $778 million for the year. (Though the year-to-year variance is relatively small, it is the lowest annual sales…

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Lagardere Publishing Sales Fall In Fourth Quarter and Full Year

Lagardere reported fourth quarter sales on Tuesday, with publishing sales of €537 million down 5.5 percent from€569 million a year ago -- and declining further, 8.7 percent, on a like-for-like basis. (Sales fell even with a foreign exchange gain of €14 million.) The company blamed "an unfavorable comparison effect" to…

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Harper Has Flat Quarter Before Harlequin Gain

HarperCollins' parent company News Corp. reported second quarter fiscal year sales for the period ending December 31 after the close of the market on Thursday. On an adjusted basis, before adding in the recently-acquired Harlequin, Harper's sales were flat at $392 million, with EBITDA down 4 percent to $65 million…

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Rowman & Littlefield Grows On Acquisitions

Driven by the purchase of multiple Globe Pequot Press imprints last May and the Alban Institute’s book business in January, Rowman & Littlefield says that book and journal sales rose to $60.3 million in 2014, up from $51 million the year before. Client sales through their distribution businesses NBN and NBN International…

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Pearson Sees Profit Rising in 2015; WH Smith High Street Sales Continue Falling

In a short trading update, Pearson told investors that 2014 results should be in line with their previous guidance, yielding earnings per share of approximately £720m (of 66 pence a share). Their preliminary forecast for 2015 has earnings rising to between 75 and 80 pence per share. Chief executive John Fallon…

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Briefs

Following Macmillan ceo John Sargent's indication that they will, with some reluctance, "test subscription in the coming weeks," Oyster announced that their collection now includes over 1,000 titles published by Bloomsbury. Harper UK has disclosed their annual results for the fiscal year ending June 30, 2014. Sales fell to £179 million, down…

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School Book Clubs Help Lift Second Quarter Sales At Scholastic

Scholastic reported second quarter sales of $666 million, up 7 percent (or $43 million) from a year ago, "largely driven by strong sales in children's books, especially in the company's school-based distribution channels, and continued growth in classroom books and magazines." All of the growth and more came from the…

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Sales Drop 18 Percent at Faber In "Tough" Market for UK Indies

2013 was a rough year for many UK independents, leading to the sale of Quercus to Little Brown UK, the reorganization of Atlantic Books (with Allen and Unwin taking a majority stake) and the sale of some of Osprey Publishing's lines, to cite a few examples. Similarly, Faber and Faber…

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