Another Tough Quarter at Harlequin Figuring out Harlequin-parent Torstar’s first quarter results requires more complicated parsing of currency hedging, exchange rates, and accounting regulation changes than usual — which generally indicates the company is straining for ways to explain that business wasn’t as bad as it looks. Actual profit from book publishing was down $9.5 million (CA) from last year — though last year they made money from smart dollar hedging rather than smart publishing. “Underlying” book profits were flat. Actual book sales declined to $118 million, from $127 million a year ago. Nonetheless, CEO Robert Prichard declares, “At Harlequin, […]
