Harlequin’s parent company Torstar reported first quarter results Wednesday. The book publishing unit had sales of $106.6 million (CA), down by $9.4 million, excluding the impact of foreign exchange (which added another $700,000 in earnings.) EBITDA was down $1.5 million in the quarter at $21.4 million, which Torstar attributed to “lower revenues as we continue to adjust in the print and digital book publishing markets to the shift to digital reading.” As in the past, the sales drop was attributed to “declines in print revenues [that] more than [offset] digital revenue growth.” Global digital revenues, up $2.9 million compared to […]
