CBS reported fourth-quarter sales after the close of the market, with sales of Simon & Schuster doing well given the economic climate, rising one percent to $245 million. Earnings suffered, however, as OIBDA declined 4 percent, at $28.3 million, and operating income was off 3 percent, at $26.1 million. The publisher took a $4.2 million “restructuring charge,” primarily due to the layoffs in December, though also including a modest charge due to the bankruptcy of Woolworth’s in the UK. For the full year, S&S had sales of $858 million, down three percent, as OIBDA of $88.2 million reflected a 9 […]
Earnings Reports
Meyer Drives Lagardere to Finish the Year Ahead
Lagardere has announced preliminary figures for their fourth quarter and fiscal year. The pulishing unit had sales of 595 million euros for the final quarter powered by the “exceptional performance” of Stephenie Meyer in the US a “sold” sales of illustrated books in France, offsetting a “slowdown in sales” in the UK. Meyer sold 8 million books in the US in December alone, and over 28 million books in the year. Though they publish her in the UK as well, “success of Stephenie Meyer only partially compensated for the departure of James Patterson to another publisher and the non-recurrence of […]
Sales Plunge at Harper; News Corp. Takes $8.4 Billion Writedown
In a dire quarter for parent company News Corp.–which is taking a total writedown of $8.4 billion, including $2.8 billion against the $5.7 billion acquisition of the Wall Street Journal, and fell well short of analysts’ diminished expectations–publisher HarperCollins only performed poorly. Sales collapsed by 25 percent, down from $406 million a year ago to $305 million, the lowest total for this period since February 2002. The company cites “lower sales driven by the weakening retail market as well as a difficult comparison to a year ago” when they had a trio of strong bestsellers, but Harper hasn’t been below […]
Amazon Beats the Street (and Passes BN)
Anaysts exected Amazon to stumble in the fourth quarter due to the economy and the etailer surprised investors with another strong report card. Sales increased 18 percent to $6.70 billion as operating income was flat at $272 million. Net income rose 9 percent to $225 million in the fourth quarter, or 52 cents per share. (Analysts were expecting only 39 cents a share, and sales of $6.44 billion.) For the coming quarter, the company expects sales to continue growing from between 9 percent and 19 percent. North American media sales (defined as sales from all sellers in categories such as […]
Sales Flat at Rodale
As a private company, Rodale’s annual press release about their performance traditionally celebrates all the things that went well and little else. Today the company says that sales for 2008 were essentially flat, down 0.5 percent from the year before (when sales were $632 million). In the books division, they celebrate sales of “more than 1.5 million copies of Eat This, Not That! and more than 1.3 million copies of Flat Belly Diet!” The company says “Rodale Books saw a 3.5 percent increase across both trade and direct channels” and they claim that “revenues from books sold online increased 47 […]
Currency Helps/Hurts Indigo
Reporting results for their fiscal third quarter, ending right after Chrismas, Canada’s dominant bookseller Indigo recorded sales of $330 million, up $7.4 million from a year ago. The Indigo and Chapters superstores rose 2.2 percent on a same-store basis, while the small format Coles store comps rose 3.2 percent. Online sales fell 2.6 percent to $30 million. The plunging Canadian dollar helped sales themselves hold up, but it hurt the company’s margins. Pre-tax earnings fell 3.6 percent to $40.1 million, while net income dropped considerably at $26.8 million, down from $49.2 million last year due to various tax line items. […]