Wiley reported fourth quarter sales for the period ending April 30, with sales falling 3 percent to $442 million (down $15 million) on currency exchange, as half their sales come from the weaker pound and euro. Adjusted operating income of $63 million was flat for the quarter, and net income was up $2 million to $48 million. The company took another restructuring charge of $4.9 million in the period “for severance and other costs related to reorganization and consolidation across the business,” the latest in $29 million worth of restructuring charges during the fiscal year. In the professional development division, […]
Earnings Reports
Books-A-Million Starts the Fiscal Year on a Downward Note; HMH Completes Scholastic Edtech Acquisition
Sales dropped $2 million (or 1.9 percent) at Books-A-Million in their fiscal first quarter, ending May 2, reaching $101.8 million for the period. Same-store sales also declined 0.9 percent down 2.5 percent, and the net loss of $5.3 million was marginally improved over the $5.6 million net loss for the same time period last year. Even ceo Terrance Finley couldn’t quite issue an upbeat statement, commenting: “Our comparable store sales decline versus last year was largely due to a strong prior year title lineup in our teen category. This decline was moderated by improvements in our fiction and kids categories […]
Indigo Sales Improve Throughout Q4 and Full Year
Canada’s dominant bookseller Indigo reported fiscal fourth quarter sales (for the period ending March 28, 2015). Sales nudged up marginally, at $186.2 million CA, while the net loss of $13.9 million was slightly lower than the net loss of $14.4 million a year ago. The revenue growth was “partly offset by a lower tax recovery and higher head office costs compared to the same period last year.” For the full fiscal year, sales of $895.4 million were up 3 percent (or $27 million.) Adjusted EBITDA grew to $20.5 million from just $100,000 in 2015. On a continuing operations basis, that […]
Bloomsbury Edges Ahead
Bloomsbury reported results for their fiscal year ending February 28, rebounding from a weak first half to finish just above even: Sales of £111.1 million were up £1.6 million (due to acquisitions) and pre-tax profit nudged up by £100,000 to £9.6 million. The company adds that “since the year end, trading has been good across all divisions, with the UK and US showing particular strength.” Even after the addition of Osprey Publishing and 200 Conway titles, sales at the adult trade division declined to £44.7 million (down£5.2 million), with a tough comparison to the year they published Khaled Hosseini in the UK. […]
Lagardere Publishing Rises On Weak Euro, But US Sales Decline Over 12 Percent
Lagardere reported first quarter sales, with the publishing unit rising overall on renewed strength in France and the weakness of the Euro, which works in their favor on US and UK book sales even as HBG USA and Hachette UK had weak quarters. That left unit sales of 421 euros up 7.1 percent on a reported basis, but down 2.2 percent on an underlying basis — taking out 29 million euros of currency gains on the weak euro, and another 8 million euros from last year’s acquisitions of Quercus, Constable & Robinson and Black Dog & Leventhal. Sales at HBG USA […]
S&S Topline Falls On Lower Print Sales
First quarter sales at Simon & Schuster fell by $8 million (or 4.5 percent) to $145 million, the company’s third consecutive quarterly revenue drop, as a result of “lower print book sales.” OIBDA was flat at $13 million (with operating income up $1 million to $12 million), with lower selling and inventory costs “more than offsetting” the print book sales decline. Bestselling titles of note included Pulitzer winner All the Light We Cannot See by Anthony Doerr, and Get What’s Yours: The Secrets to Maxing Out Your Social Security by Laurence J. Kotlikoff, Philip Moeller, and Paul Solman. CEO Carolyn Reidy […]