Quietly topsy-turvy days in book publishing are well reflected in Harper Collins’ first fiscal quarter earnings report, released Thursday night by parent company News Corp., if you are paying attention. CEO Robert Thomson reported “an uncharacteristically weak performance in Book Publishing” in the quarter, with sales of $536 million, down $10 million from the same period a year ago. Profits fell further, at $58 million, down from $81 million last year. They took a $13 million “receivable write-off relating to the expected closure of Baker & Taylor,” CFO Lavanya Chandrashekar reported on the investor call. The unit “faced blustery winds […]
