Now buried in the News Corp. newspaper-dominated publishing segment, HarperCollins merits one clause in the company’s quarterly earnings report: income for the publishing division was held back “by lower contributions at HarperCollins.” In a brief statement, the publisher itself claims victory for having giving corporate more than they promised, regardless of comparisons to a year ago: “HarperCollins had a good quarter, exceeding its plan. The children’s division did extremely well, thanks to the Justin Bieber memoir, as well as two titles by Lauren Conrad. Sarah Palin’s America by Heart and Steve Harvey’s Straight Talk, No Chaser also performed well in […]
Earnings Reports
McGraw-Hill Ends Year with Q4 Profit Drop
McGraw Hill reported fourth quarter earnings of $153.8 million; or 50 cents a share, an 8 percent (or $27 million) drop from $167.3 million, or 53 cents a share, a year earlier. Excluding items such as acquisitions and a prior-year gain related to the sale of BusinessWeek, earnings rose to 55 cents from 51 cents. Total revenue rose 4.2 percent to $1.52 billion for the quarter, but the education side saw revenue slide 4.6 percent to $496.3 million and profits decrease to $496.3 million, largely attributed to an overall decline in textbook open territory sales. For the year, total net […]
Amazon Says Kindle Sales Exceed Paperbacks–and Coincidentally, Profits Fall Even As Sales Rise Over $3 Billion
Amazon reported sales of $12.95 billion for the fourth quarter, up 36% from a year ago. But operating income actually declined, even with almost $3.5 billion in extra revenue, down $2 million at $474 million. The company says they sold “millions of third-generation Kindles” in the quarter, and indicates “Kindle books have now overtaken paperback books as the most popular format on Amazon.com” and “this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales.” The company adds that, “since the beginning of the year, for every 100 paperback books Amazon […]
Positioning Aside, Sales Fall at WH Smith High Street Stores By A Good Amount
The UK’s WH Smith presented weak sales data that people are working hard to put a positive gloss on. Same-store sales at their High Street stores were down 7 percent for the eight weeks ending January 22 (so holiday sales, sort of) and down 6 percent for the most recent 21 weeks. The company says that “excluding entertainment” product, same-store sales were down 3 three percent. They say they are “rebalancing” their store mix to focus books, stationery and candy. The Bookseller says retail analysts were told once you isolate book sales, they fell 2 percent on a same-store basis […]
Courier’s Results Slide, But Profit Forecast Is Raised On “Positive Currents”
Sales at the book publishing unit at Courier fell 7 percent in their fiscal first quarter, ending December 25, at $10.8 million, but ceo James Conway III says “there were positive currents at work” and they “look forward to a stronger spring throughout the segment.” After a long decline due to the housing recession, Creative Homeowner sales rose 7 percent, and Dover increased online sales even while declining 3 percent overall. Courier’s larger printing business also declined–but with increases in their digital printing, the company increased full-year profit expectations anyway by five cents a share. Overall, sales for the quarter […]
Pearson Raises Earnings Guidance Again, Promises “Record Results” for Penguin
Pearson issued a brief trading update ahead of February’s full report of earnings for the year, raising their profit guidance yet again, to 76 pence per share (up from 72 pence per share), which took the stock to a new high. Even with the end-of-year Borders surprise, they say that Penguin “performed strongly in our key trading season and will report record results despite tough conditions in the physical book retail market.” Overall profits of 850 million pounds are expected to be up 20 percent over last year, “fuelled by [their] consistent investment in the global learning industry, in digital […]