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May 6, 2009By Michael Cader

Another Steep Drop in Sales at HarperCollins; Borders Braces for Depressed Spending

May 6, 2009By Michael Cader

Sales at HarperCollins dropped by nearly 20 percent in their fiscal third quarter through the end of March, falling by $59 million to $243 million for the period. The unit swung from adjusting operating income of $29 million a year ago to a $38 million loss this quarter, including a $30 million restructuring charge due to the layoffs earlier this year. The drop in sales is only modestly better than the 25 percent drop-off last quarter. The publisher is showing an operating loss for the three quarters of this fiscal year of $12 million (compared to profits of $132 million […]

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Filed Under: Earnings Reports, Publishers

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