Simon & Schuster’s remarkable streak of 19 consecutive quarters of earnings growth came to an end in the fourth quarter of 2019, reported this morning by new parent company ViacomCBS. Sales for the quarter were $215 million (down from $218 million in 2018, and $235 million in 2017), with adjusted operating income before depreciation and…
Earnings Reports
Storytel 2019 Earnings Reflect Continued Global Expansion
Audiobook streaming service Storytel reported 4th quarter and full-year 2019 results along with 2020 guidance on February 20, showing continued double-digit growth powered by aggressive investment in new markets. Net sales for Q4 2019 totaled 565 million SEK ($57.7 million), up from 436.6 million SEK ($44.6 million). Meanwhile, the company’s quarterly loss before tax was…
Quad Continues Sales and EBITDA Decline, But Exceeds Expectations
Quad announced Q4 2019 earnings February 18, with net sales of $1.1 billion, down 4.9 percent from a year ago–or 5.9 percent excluding sales from the Periscope acquisition. Adjusted EBITDA was also down, to $96 million from $118 million in 2018. Previously announced plans to sell the increasingly unprofitable book printing business are “progressing as…
Cengage McGraw-Hill Merger Now Expected to Close in Mid-2020
Reporting Q3 results, Cengage c.e.o. Michael Hanson said that the merger with McGraw-Hill was now expected to close in mid-2020, due to a slower-than-expected regulatory process. Previously the companies had announced an extension of their merger agreement to May, and Hansen said the agreement allowed for another extension to August 1. DOJ approval will likely…
Reporting Sales Decline, Indigo “Hit on All Sides” Says CEO
Indigo reported third quarter earnings, with sales of $384 million (CA), down from $426 million for the same period last year. Comparable superstore sales were down 10.1 percent, and online sales declined 12.7 percent. But net earnings rose anyway, to $25.8 million from $21.5 million last year, thanks to “focused efforts to improve margin rates…
Harper Reports Weak Holiday Quarter
News Corp. reported earnings for their fiscal second quarter, ending December 31, with Harper Collins registering its third consecutive weak quarter. Sales of $442 million were down $52 million from a year ago, falling 11 percent. EBITDA fell further, down 28 percent, to $63 million from $88 million. The company attributed the shortfalls “primarily due…