Harper Collins reported a weak end to a difficult fiscal year, with fourth quarter sales of $446 million down $67 million from a year ago, 13 percent lower. EBITDA suffered even more, at just $16 million, compared to $47 million a year ago. $20 million of that gap was due to the calendar — with an additional 14th week included in last year’s quarter. The company also lost some revenue to foreign exchange. Broadly, News Corp. cited “lower book sales due to lower consumer demand industry-wide, [and] weak frontlist performance, which contributed to higher returns.” Earnings fell on a mix […]
