Sales at Torstar’s Harlequin unit fell in their first quarter, ending March 31, at $113 million down more than 9 percent from $124.5 million a year ago. EBITDA rose over 9 percent, though, to $23.7 million. The company says North American retail and overseas sales fell, as digital revenues had “strong growth.” In a bit of a paradox, the rising Canadian dollar accounts for $10 million of the drop in sales, but foreign exchange also contributed to the rise in profits.Release
Earnings Reports
Harper Returns to Slim Profit in Third Quarter
Sales at HarperCollins rose 13.5 percent to $276 in their fiscal third quarter ending March 31, as operating income turned positive again at $4 million after an $8 million loss (plus a $30 million restructuring charge) in the same period a year ago. While an improvement, note that two years ago in the same quarter Harper had sales of $302 million and operating income of $29 million. As usual, Harper UK proudly points out to the local trade press that they “did outperform the market,” the most positive way of saying that sales declined, but not by the six percent […]
Pearson Assures A "Good Start," Up 7 Percent In Q1
In a brief first quarter trading update, Pearson reported sales of 1.08 billion pounds, up seven percent driven, as usual, by the education group. They say Penguin “made a good start to the year, particularly in the US, the UK and at Dorling Kindersley. We expect another good competitive performance, with a compelling publishing schedule in the second half of the year. Growth in demand for eBooks also remains very strong, and Penguin is actively engaged in developing new publishing models for digital devices.”Statement
Waterstone's Same-Store Decline "Improves" to -4.8 Percent
In a preliminary report of annual results, Waterstone’s parent HMW is claiming that bookstore sales are improving, with same-store sales for the 16-weeks ending April 24 down 4.8 percent–which is indeed better than the full-year same-store decline of 6.2 percent, and also an improvement over the poor Christmas holiday comp decline of 8.9 percent. Overall bookstore sales for the year are down 6 percent as well. It’s the second straight annual decline for the chain. Though they did not report actual figures today, based on last year’s numbers, sales will be down to approximately 515 million pounds for the year. […]
Education Gains Slightly at McGraw-Hill; United Media Licensing Sold
Reporting results for their fiscal first quarter, McGraw-Hill’s education division rose 1.5 percent to $317 million, with a reduced operating loss of $61.8 million. Higher ed, professional and international sales rose over 8 percent to $206 million due to “surging sales of digital products,” but school education sales fell 9 percent to $112 million. Those digital gains included “double-digit revenue increases” from “e-books, online courses and online homework management assessment products for students.”Release Brand management group Iconix has bought United Media Licensings from the E.W. Scripps Company for $175 million. As part of the deal, Iconiz has created a partnership […]
Amazon Posts $7 Billion Quarter, But Low Guidance Worries Market
Amazon reported first quarter sales after the close of the market yesterday of $7.13 billion, up a sizable 46 percent from a year ago and ahead of consensus expectations by over $140 million. Net income of $299 million increased even more, by 68 percent (at 66 cents a share also well above estimates of 61 cents a share). North American media sales were up a mere 22 percent, at $1.597 billion, now well exceeded by international media sales, which rose 29 percent to $1.833 billion. Growth in electronics is really driving the company’s overall gains. The Kindle store now officially […]