The UK’s Faber and Faber reported strong results for the fiscal year ending March 2013, with sales of £20 million and operating profit of a robust £2.24 million. CEO Stephen Page said in a statement: “This record result for the company is very pleasing, and is the result of the company’s long-term plan to thrive in this new era for the industry. Across the publishing, creative writing, digital and service businesses, we saw development and success.” A year ago, sales had declined from £19.1 million to £17.5 million, and after tax profit had fallen to £537,000. On Canongate’s results noted […]
Earnings Reports
Profits Rebound at Canongate
Independent publisher Canongate definitely had a better year in fiscal 2012, after a disastrous experience the previous year with Julian Assange. It was their iconic hit, the 2002 Booker winner LIFE OF PI, the led the revitalized results, thanks to the success of the film version. After an operating loss for 2011 and pre-tax profit of just £300,000, Canongate reported a pre-tax gain of nearly £1 million for 2012. Reporting their sales is a little confusing, however. The company says in a brief statement that 2012 sales were £9.6 million — and asserts that was an increase of £1.7 million […]
Quercus First-Half Revenue Grows But Profits Decline Further
Quercus announced preliminary results for the first half of the fiscal year ending June 30, reporting £0.52 million in operating profit, a 7 percent drop compared to the same period last year, and revenues of £10.2 million, up 10.9 percent from the previous year. On the growth side, ebook sales were £3.5 million, comprising approximately 34 percent of total revenues for the first six months of the year. Quercus ceo Mark Smith said it had been “a time of preparation for the launch of the company’s inaugural US publishing program”, which now employs four people in its new US office. […]
Nelson Continues to Lift Harper’s Results
News Corp. reported results for their fourth quarter and full fiscal year, ending June 30. HarperCollins had sales of $329 million and EBITDA of $22 million in the fourth quarter (derived from the annual report), and for the full year, they recorded sales of $1.369 billion and EBITDA of $142 million. That compares to sales of $1.189 billion and EBITDA of $86 million in fiscal 2012. All but $5 million of the sales gain was attributed to the acquisition of Thomas Nelson (which accounted for $172 million in sales). And $27 million of the EBITDA gain came from Nelson as […]
Sales Fall 6% At Scholastic As Loss Is Slimmed
Sales at Scholastic fell 6 percent in their first quarter, down $17 million to $276 million, but their seasonal loss was trimmed as well, with their operating loss about $1 million lower at $45.9 million. The children’s book publishing and distribution division had sales of $54.6 million — down from $70.9 million a year ago — with the seasonal loss of $61.5 million $6.6 million higher. (The book clubs and fairs take a loss when school is not in session.) The return to normal of The Hunger Games continues to weigh on that division, and lowered the comps in international […]
Wiley Nudges Forward, with Less Trade Baggage
Wiley reported first quarter 2014 results of $411 million, just above even with a year ago but up 3 percent on an “adjusted” basis. Net income of $32 million was up 2 percent on a currency-neutral basis, but down $1.4 million in real terms following another in a series of planned restructuring charges. In a telling shift, the company reported “52 percent of our revenue comes from digital content and services, up from 45 percent a year ago, Our transformation from print publisher to provider of digital knowledge and knowledge-enabled services continues.” As does their transition away from any significant […]