Harlequin’s parent company Torstar reported first quarter sales, with the book publishing unit appearing to show mixed results. For some reason the company did not break out the quarter’s book publishing sales but they indicate revenues rose $3.9 million (CA)–which, based on last year’s results, would put them at $116.9 million, still well below first quarter 2009, when sales were $124.5 million. They did break break out EBITDA, which declined $1.2 million to $22 million for the quarter. As usual, currency effects and hedges figure prominently in the group’s results, particularly with the Canadian dollar rising again. Management assures investors […]
Earnings Reports
Sales Up For Simon & Schuster in First Quarter
Sales at Simon & Schuster rose 2 percent in their fiscal first quarter, up $3 million to $155 million. Adjusted OIBDA improved as well, more than doubling from $3 million last year to $7 million this time, and adjusted operating income rose similarly from $2 million to $5 million, helped by “lower shipping, production and returns costs from the significant increase in digital sales.” eBooks comprised 17 percent of revenues worldwide (and thus were likely a higher percentage for the US alone) or more than $26 million, up from 7 percent a year ago. While Hachette Book Group said in the […]
Lagardere Sales Slide As US eBooks Hit 22%, Plus UK Digital Stats and Asian Device Updates
Today’s stories offer digital statistics and hints from all over. Lagardere issued a brief first quarter trading update. Publishing revenues were 390 million euros, down 9.8 percent on an absolute basis, and down 10.4 percent from a year ago on a like-for-like basis. Once again, they attribute the drop to Stephenie Meyer’s declining sales. (The same period a year ago “notably” included Meyer rights sales as well.) eBooks comprised approximately 22 percent of sales in the US in the quarter through the end of March, and grew to 5 percent of sales in the UK. For the full year, they […]
Borders Tallies Their Record Losses, Before and After Bankruptcy
In two different statements filed with the SEC, Borders has further cataloged the many ways in which they excel at losing money. Let us count the ways: In the most recent operating month under bankruptcy, between February 27 and March 26, Borders preliminary calculation is that they lost $24.3 million on sales of $91.4 million and “other revenue” of $73.8 million. In the prior month, between January 30 — two weeks before filing for Chapter 11 — and February 26, the company lost $28.3 million, on sales of $127 million (and other revenue of $38.5 million). Yes, that’s a loss […]
Sales Still Climb for Amazon, but Q1 Profits Fall Further
Amazon reported first quarter sales of $9.86 billion, up 38 percent from a year ago, but for the fourth straight quarter–and as guided three months ago–net income fell to $201 million, down by a third, and operating income declined to $322 million, a $72 million drop as compared to last year. Earnings per share of 44 cents were well below analysts’ estimates of 61 cents a share, but sales were higher than predicted. While an earnings shortfall usually leads to a big drop in the stock, Amazon’s shares are rising in this morning’s trading. The company’s margins continue to fall […]
Publishing Slides in Second Quarter For Courier on Borders Writedown Charge
Courier’s publishing units had sales of $10.1 million, down 14 percent compared to a year ago, with lower sales to Borders (and a $750,000 one-time restructuring charge thanks to the chain’s Chapter 11 bankruptcy) accounting for the largest part of the shortfall. Where Borders made up 9 percent of segment revenue in the company’s first six months last year, now it only made up 2 percent for FY2011 to date. Excluding the writedown, the segment lost $1.2 million, a far cry from a year ago when it broke even. Ceo James Conway said, “We felt the same pressures as most […]