Quarto reported preliminary earnings for the full fiscal year on Tuesday, with sales of $186.1 million up 5.5 percent, helped by “two small acquisitions” during the year, and pre-tax profit of $12.1 million was up 5.2 percent. Digital sales grew fivefold, but still comprise only $2.1 million of sales, or about 1 percent of sales, noted in the release “to satisfy the curiosity of analysts and commentators.” Often mentioned as a potential acquirer of other houses, including the current Sterling Publishing offer, Quarto’s net debt also rose–up 14 percent, to $81.4 million, including the cost of acquiring Cool Springs Press […]
Earnings Reports
Barnes & Noble Sells More Books, But Liberty Share Dilute Earnings
Barnes & Noble reported third quarter earnings Tuesday and, consistent with their holiday sales update, business increased at the retail stores. At $1.494 billion, store sales were up 2 overall; same-store sales rose 2.8 percent, and the company said “retail core” comparable sales, excluding devices, accessories and warranties, rose 4.2 percent compared to a year ago. (Those increases are all slightly smaller than the growth reported for the nine-week holiday period on its own) BN.com sales rose 32 percent to $420 million, on the rising Nook business but with “a decline in online physical product sales”; college sales slid, “due […]
S&S Registers Eighth Consecutive Profit Increase Even As Sales Wane
CBS reported fourth quarter earnings after the close of the market on Tuesday, with Simon & Schuster recording a 1 percent decrease in sales, down $3 million to $229 million, accompanied by a sharp increase in profits. Adjusted OIBDA rose $8 million (or 40 percent) to $28 million, and adjusted operating income rose $9 million, at $27 million. That’s a 12 percent margin for the quarter, and the company recorded an 11 percent profit margin for the full fiscal year. S&S took a $2 million restructuring charge during the fourth quarter not charged against OIBDA, related to the realignments in […]
More Briefs: Profits Slide At Bertelsmann, Glad Day Bookshop Finds Buyers
Bertelsmann released preliminary, topline figures for 2011, with their full report due on March 28. Sales from continuing operations nudged up 1 percent, to €15.3 billion, while operating EBIT fell roughly 5 percent, to €1.7 billion. Positive indicators included “rapidly growing e-book sales.” Toronto’s LGBTQ Glad Day Bookshop has secured a future for itself, with news that a group of local supporters have joined together to buy the store. High school teacher Michael Erickson, who led the group of buyers, says that “as individuals, none of us are rich. But collectively, there will be over 20 of us in the […]
Indigo Sales Up Slightly As Profit Falls in Third Quarter; Company President Steps Down
For their fiscal third quarter ending December 31, Indigo reported sales from continuing operations of C$353 million, up 0.5 percent from a year ago, with net profit of C$23.7 million (down from $27 million a year ago), affected by $4 million in non-cash asset impairment charges during the quarter. Superstore comps rose 1.8 percent and smaller-format stores were up 2.5 percent, but physical book sales declined, compensated for by rises in gift, lifestyle, toys, and ereaders. Online sales rose 9.3 percent compared to a year ago, at $31.2 million. Now accounted for separately as discontinued operations, Kobo had sales for the quarter of […]
Harper Results Are Soft In the US, Strong In the UK, As eBooks Stay At 10% Worldwide
News Corp. reported second quarter sales after the close of the market Wednesday. As in the past, the performance of HarperCollins is too modest to merit any mention in the earnings release. In the publishing segment, focused on newspapers, sales fell 9 percent and operating income dropped by 43 percent, blamed on “lower advertising revenues at the Australian newspapers and the integrated marketing services business” as well as the closure of The News of the World. In a brief statement, Harper said their best-performing units were Harper UK (publisher there of George R.R. Martin’s Game of Thrones books) and Zondervan […]