Harlequin’s parent company Torstar reported second quarter results Wednesday morning. The book publishing unit had sales of $99.5 million (CA), down by $7.5 million. EBITDA was down $7.6 million in the quarter at $11.5 million, which Torstar attributed to “a combination of lower revenues, higher author royalties for digital sales and less favorable adjustments to prior year returns provisions partially offset by lower costs and savings from restructuring initiative.” The unit also took another $1 million charge — half for staff reductions as part of their ongoing restructuring, and half for “other charges.” As in the past, the 7 percent […]
