Lagardere released a brief summary of sales (but not profits) for the first half of their fiscal year. The publishing division recorded revenues of 546 million euros for the quarter, up 10.4 percent compared to a year ago, with sales for the first half of the year at 1.009 billion euros. “The success of the Stephenie Meyer saga was unabated,” they report, though there was a “slowdown in growth in the month of June due to robust sales in June 2008 when two novels by James Patterson were published.” Similarly, comps for the second half of the year will have […]
Earnings Reports
Scholastic "Approximately Level" with Last Year Except for Foreign Exchange
Scholastic reported sales from continuing operations in their fourth quarter of $496 million with the decline of 5.4 percent attributed primarily to foreign exchange. Earnings from continuing operations of $32.2 million were up 7 cents a share (at 88 cents) while net income improved considerably, at $27.7 million, compared to a loss of $10.7 million a year ago. In their children’s book publishing and distribution division, sales fell $13.3 million to $249.3 million, on “lower revenue from clearance sales in School Book Fairs, as well as lower Harry Potter sales in trade compared to a year ago.” Segment operating income […]
Despite Steep Q3 Drops, Courier Stays Optimistic About Future
For the quarter ending June 27, Courier Corporation’s consolidated third-quarter revenues were $61.4 million, down from $73.4 million. Book publishing sales declined, but “less so than earlier in the year,” with an 8 percent drop at the Dover unit. “While Creative Homeowner sales were down 38%, most of that decline was the result of the winding-down of its book distribution services earlier in the year.” Total publishing sales of $11.3 million were down 15.7 percent from $13.4 million a year ago. Operating loss for the division improvted to $624,000, versus a loss of $2.5 million last year. Company CEO James […]
Waterstone's Makes Year's Drop in Sales and Profits Sound Strong
Waterstone’s parent has updated the sparse sales statistics provided in late April with their “preliminary results” for the fiscal year. The basic numbers are the same (comp sales still fell 3.8 percent), though they add actual sales for the year–548.3 million pounds–and profits, at 10 million pounds down 38.5 percent from the previous year. The decline in earnings is attributed to “the sales decline, a 10 basis points reduction in gross margin due to the higher mix of online sales, and £2.0m of book hub start-up costs, partially offset by cost control measures, including bonus savings.” They also too “exceptional […]
Economy and Currency Pull Down Wiley Results
Sales fell 6.7 percent at Wiley in their fourth quarter, at $403 million and earnings per share decline 14.3 percent, with “continued softness in professional/trade and a decline in higher education.” The company says results rose on a currency-neutral basis. For the coming year, the company says “we anticipate revenue growth on a currency neutral basis” but “top-line results will be highly dependent on economic conditions around the world.” For the full fiscal year, revenue fell 3.7 percent to $1.6 billion reflecting a $120 million negative effect from foreign exchange (principally the declining British pound), and earnings per share declined […]
Quercus Still Growing, without Profits
Sales at Quercus rose to 10.94 million pounds, up 27 percent, but the house reported a consolidated loss of 281,000 pounds for 2008. CEO Mark Smith writes, “the disruption in the UK marketplace contributed to a shortfall in our anticipated Trade revenues and, as a result, total revenue fell short of expectations.” He writes that the first five months of 2009 have been better, saying “we are confident of achieving better results in 2009, but remain watchful and prudent in the current climate.” (Quercus should start to receive royalties from the US edition of Stieg Larsson’s novel later this year.) […]