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Corporate News: Quarto Finishes Up On Acquisitions; Colman Getty Acquired

February 21, 2012
By Michael Cader

Quarto reported preliminary earnings for the full fiscal year on Tuesday, with sales of $186.1 million up 5.5 percent, helped by “two small acquisitions” during the year, and pre-tax profit of $12.1 million was up 5.2 percent. Digital sales grew fivefold, but still comprise only $2.1 million of sales, or about 1 percent of sales, noted in the release “to satisfy the curiosity of analysts and commentators.” Often mentioned as a potential acquirer of other houses, including the current Sterling Publishing offer, Quarto’s net debt also rose–up 14 percent, to $81.4 million, including the cost of acquiring Cool Springs Press […]

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Filed Under: Earnings Reports, Finance, International News, Publishers

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