Bonnier Books’ parent company Bonnier released 8-month earnings for the period of January to August 2019, with overall sales for Bonnier of SEK 17.2 billion, up from SEK 16.1 billion last year’s period. (They report in 8-month and 4-month installments.) Bonnier Books sales were near flat at SEK 3.633 billion ($375 million), down from 3.636 billion a year ago. Sales are down more noticeably for the last 12 months, at 6.33 billion, versus 6.436 billion a year ago. Meanwhile, the EBITA loss improved, to SEK (111 million) from (215 million). Adlibris sales were also down, to SEK 1.325 billion from […]
Audible Makes Publishers an Offer on Captions, and More Legal Updates
Judge Valerie Caproni has been in no hurry to rule on publishers’ request for a temporary injunction blocking the release of Audible Captions, waiting for the parties to try and work out a business arrangement — and now Audible’s lawyer counsel has asked the court to “suspend its consideration of the pending motions for a week.” In the letter, sent on Wednesday, Audible attorney Emily Reisbaum reports, “Audible has made a proposal to plaintiffs concerning a potential final resolution of the lawsuit,” adding that “Audible believes this proposal moots the lawsuit.” She says “publishers are considering the proposal but have […]
Continued Trade Momentum Boosts Sales at Scholastic
Scholastic reported earnings for their fiscal Q1 2020, ending August 31, with sales of $232.6 million, up from to $218.4 million in the first quarter of 2019. “The big story in the quarter was our strong trade frontlist worldwide,” said cfo Ken Cleary on the analyst call. Trade publishing sales were $74.1 million, up from $61.4 million last year. In overall Children’s Book Publishing and Distribution, which includes book clubs and fairs as well as trade, first quarter revenues rose to $109.6 million, from $95.7 million. “Most impressive was our strength in series publishing — Dog Man, Captain Underpants, Harry […]
Wiley Q1 2020 Reflects Continued Softness in Educational Publishing
Wiley reported earnings for the first quarter of fiscal 2020, ending July 30, with sales of $423.5 million. Results were $12.6 million higher than a year ago, but that includes $15 million in revenues from the acquisition of ZyBooks in July. The company took a restructuring charge of $11 million for severance and other costs as part of their “multi-year business optimization program.” (That’s actually below the forecast of a $15 million to $20 million charge in the quarter. On the investor call, cfo and evp John Kritzmacher said the lower charge reflects more work to be done on their […]
Quarto Loses A Little Less Ahead of “Particularly Challenging” Fall; BNED Sets Meeting, and More
Quarto released half-year results for 2019, reporting an improvement in earnings — which is to say, a smaller loss — amidst a prediction of a challenging second half of the year. Revenue was up slightly to $56.4m, from $56.2 million in the first half of 2018, but those sales were spread across fewer books, as part of the company’s cost-reduction program. The total operating loss was $(1.2) million, an improvement from $(4.7) million in last year’s period; adjusted loss before tax was $(4.0) million compared to $(6.6) million. The company suggests that the “net debt [has] reduced significantly,” but that’s […]
McGraw-Hill Reports Improved Q2 Results, DOJ “Second Request” For Merger Info
McGraw-Hill reported top and bottom line progress in Q2, touting the success of its digital offerings, which now comprise 51 percent of total billings. Sales of $385 million for the quarter were flat, while total billings of $394 million were up $41 million from a year ago. Meanwhile, the cost of servicing its $2.1 billion dollar debt continues to chew through the company’s earnings. The quarter showed a net loss of $42 million — thanks to $47 million spent paying off interest. The comprehensive loss was higher, at $51 million, a little better than the $54.5 million loss in Q2 […]