HarperCollins reported their fiscal third quarter, ending March 31, with sales rising 14 percent to $354 million and EBITDA gaining even more, nearly doubling to $53 million (compared to sales of $311 million and EBITDA of $29 million a year ago). As noted in the previous quarter, the company cited “the higher contribution to profits from ebooks and ongoing operational efficiencies coupled with higher revenues” for the strong earnings. Veronica Roth’s Divergent series continued to bolster sales, accounting for 8 million net units for the quarter. eBook revenues represented 26 percent of overall sales for the quarter, up 46 percent from a […]
Archives for May 2014
Frontiers: BN College Aims to Grow; Speculation On A McGraw-Hill IPO
Barnes & Noble College ceo Max Roberts tells Reuters the unit plans to add about 300 stores over the next 5 years, bringing them to approximately 1,000 locations. The company has added about 50 college bookstores over the past two years, with almost 700 stores now. Reuters writes: “It intends to do that by getting more schools to outsource their bookstore operations with the lure of nicer, higher-grossing stores and by poaching accounts from larger rival Follett Corp.” Separately, an article in The Deal cites “sources speculating” that Apollo Global Management may be looking to float an IPO in McGraw-Hill […]
Acquisitions: McEvoy Buys Personalized Publisher, Kobo Adds More Sony Readers, Oyster Expands
The McEvoy Group has acquired Minneapolis–based personalized gifts and books publisher I See Me! from founders Maia and Allan Haag for an undisclosed sum. Owner of properties including Chronicle Books, McEvoy plans to use the acquisition to build upon Chronicle’s personalized books and gift line. “We’re excited to welcome I See Me! to our family of companies,” said The McEvoy Group founder and ceo Nion McEvoy in the announcement. “We believe that together with Chronicle Books’ growing personalized publishing program, MyChronicleBooks, we will provide the best and most innovative personalized publishing and gifts in the market.” The 14-year-old company will remain headquartered […]
Houghton Mifflin Harcourt Has Trade Loss On Difficult Comparison, Bad Winter Weather
Sales fell at Houghton Mifflin Harcourt in the first quarter of 2014, primarily because of an $8 million decline in the trade division, which had strong movie tie-in sales for The Hobbit and Life of Pi in 2013, but also because of “book store sales declines attributable to the severe winter weather conditions across the country.” As a result, the trade division recorded a net loss of $5.2 milion, and adjusted EBITDA of a loss of $1.3 million — compared to an EBITDA gain of $6.7 million a year go. Trade sales were $32 million for the period. Companywide, HMH […]
Quarterly Briefs: Berteslmann, Quarto, and Courier
In the traditionally modest European quarterly trading update style, Bertelsmann reported sales of 3.9 billion euros (up 8.5 percent from a year ago) and operating EBIT from continuing operations of 256 million euros (down 36 percent). CEO Thomas Rabe said in the release: “Our operating performance is good, and last year’s major transactions are paying off. We invested heavily in our content and services businesses in the first three months of 2014 and have made significant progress in putting our strategy into action.” Rabe also reiterated plans to invest in education, adding: “In the long-term, this sector will become a […]
People, Etc.
Tisse Takagi has teamed up with The Science Factory as an agent, based in New York, focusing on non-fiction in the areas of biography, food, and music as well as science. She was an editor at Basic Books. It’s the first appointment since Peter Tallack, who runs the agency from Hamburg, Germany, founded the company six years ago. He describes the collaboration as an exciting step in extending the company’s international reach and intellectual breadth and depth. Co-ceo of The Carlyle Group David Rubenstein will take over in October as chairman of the James Madison Council, an advisory and fundraising […]