Quarto Group reported results for the year ending December 31, 2014, with sales up 2 percent to $172.6 million (a increase of $3.4 million) and operating profit up 10 percent to $15.4 million (an increase of $1.4 million). CEO Marcus Leaver said in the release, “In 2014, Quarto started to deliver on its potential following a year of tactical reorganization. The business has been simplified and focused and is beginning to deliver on its strategic priorities. The second half of the year was strong and this has given us momentum into 2015.” Chairman Tim Chadwick added: “We have made good […]
Earnings Reports
Lagardere’s Profit Falls Along with Sales
Having already reported sales for 2014 a month ago, in the European style Lagardere followed up on Wednesday afternoon with a full accounting of their profits for the year as well. On those sales of €2.004 million (down 3 percent), recurring EBIT fell further, down €26 million or 12 percent to €197 million. EBIT, after non-recurring/non-operating items, declined €23 million to €169 million. Despite the weaker year, publishing still accounts for over half of parent company Lagardere’s total earnings (but 28 percent of sales). Per our previous estimates, Hachette Book Group in the US and Canada comprised 24 percent of publishing sales, […]
Barnes & Noble Discloses More Figures, Buys More Time from Samsung
As we’ve pointed out, Barnes & Noble’s sales of Nook-branded devices have been running well below projections and their purchase promise made to Samsung. In an amendment to that agreement dated March 7, Samsung agreed to give Nook until June 30, 2016 to purchase at least 1 million co-branded tablets — giving them an extra 9 months to try to meet their minimum. Barnes & Noble’s quarterly SEC filing also provides some additional breakdowns on their business components. In the retail stores, you can now see the balance between growing toys & games sales versus what the company has called stabilizing […]
Wiley Grows in Q3, But Book Sales Still Decline
Wiley reported adjusted third quarter sales of $466 million, up 2 percent including foreign exchange, while adjusted operating income of $78 million was flat (with net income rising $3.5 million). The company took charges of $24 million in the quarter related to their ongoing restructuring program, of which half was due to prior restructurings of facilities and the other half due to severance costs. The company’s reduced trade book lines remain part of the “professional development” segment, where adjusted revenue 17 percent to $108.6 million, largely attributed to the recent acquisitions of CrossKnowledge (which contributed $16.2 million in revenue) and Profiles International […]
Barnes & Noble Sales Ebb; Earnings Improve Less Than Expected
Barnes & Noble reported fiscal third quarter earnings on Tuesday morning for the period ending January 31, with sales of $1.96 billion down $35 million from a year ago. EBITDA improved by $24 million to $197 million, and consolidated earnings rose to $72 million (93 cents per share), compared to $63 million (86 cents per share) a year ago. That’s better for the company’s basic health, but it’s much lower than analysts had expected, looking for profits of $1.19 to $1.41 a share according to various estimates. More importantly, the apparent “gain” actually just reflects losing less money on Nook as those sales evaporate; EBITDA at […]
Pearson “Completed Our Intense Two Year Restructuring”; Names PRH’s Williams CFO
Pearson announced preliminary annual results Friday morning, with sales of £4.874 billion down 4 percent (but up 2 percent on a constant-exchange-rate basis) and higher operating profit of £720 million — with lower restructuring charges but a higher tax rate, leaving earnings down to 66.7 pence per share, compared to 70.1 pence per share a year ago. Those results were in line with their “trading update” from earlier this year. Chief executive John Fallon declared, “We’ve completed our intense two year restructuring and reinvestment programme and performed well competitively despite some challenging market conditions.” The company forecast improved adjusted earnings per share of […]