Quarto reported sales of $188 million for 2016, up $6 million from the year before, though operating profit fell to just $1.7 million, due to the $14.2 impairment charge related to the Books & Gifts Direct businesses in Australia and New Zealand that are being sold. Operating profit absent that division was $18.6 million, up $3 million. “Underlying” sales, without the $12.7 million added by the acquisitions of becker&mayer and Harvard Common Press during the year, also declined. (In particular, becker&mayer “exceeded management expectations by effectively becoming our sixth most profitable imprint this year.”) After tax, the company recorded a […]
