Barnes & Noble Education reported results for the fourth quarter and fiscal year ended April 30, and restated the results of fiscal year 2021, due to “certain out of period adjustments related primarily to income tax benefit, and restructuring and other charges.” Those adjustments increased the fiscal year 2021 net loss by $8 million. The company finished the fiscal year by doing less worse than before: Sales for Q4 2022 were $261 million, up 17 percent from the revised $223 million last year. But that’s still well below the pre-pandemic level, which saw sales of $334 million in Q4 2019. […]
Earnings Reports
Bloomsbury Reports Record Sales, Profits
Bloomsbury announced results for fiscal year 2022, ending February 28, reporting its highest ever sales and profit. Sales were £230 million, up 24 percent from last year and 41 percent from 2020. Profit before tax was £22.2 million, up from £17.3 million last year. Recent acquisitions, led by Head of Zeus, accounted for £17 million of the increased sales, with “organic” sales up 15 percent for the year. “Both the Consumer and Non-Consumer divisions gave outstanding and resilient performances, highlighting Bloomsbury’s unique strength in combining general and academic publishing,” ceo Nigel Newton said. “Bloomsbury plans to invest robustly in continued […]
WH Smith Rebounds Overall, But High Street Sales Are Weak
UK book retailer WH Smith reported a brief trading update for the third quarter, the 15 weeks ended June 11. The company is still comparing their results to those of 2019, with overall group sales at 107 percent of the same period in 2019 lifted by a surge in travel—the first time the company has risen above pre-pandemic numbers. But High Street sales remain weak, at 79 percent of 2019’s level, including “the impact from the cyber incident on [online gift and greeting card business] Funky Pigeon,” down 7 percent from the same period last year. High street sales have […]
Wiley Exceeds $2B in Full-Year Sales for the First Time
Wiley reported fourth quarter and fiscal year results for the period ended April 30, with fourth quarter sales of $546 million, up 2 percent from $536 million, held back by -$11 million in foreign exchange. Operating income was $58.4 million, up 14 percent from $51.2 million a year ago, and adjusted EBITDA was $110.9 million, down from $112.7 million. Academic & Professional Learning (which includes trade books) was down 7 percent as reported in the quarter, “driven by declines in education publishing and trade publishing, offsetting a continued strong recovery in corporate training.” That corporate training recovery was evident in […]
Indigo Exceeds $1 Billion In Sales, Returns to Profitability
Indigo reported fourth quarter and full-year results on Friday for the period ended April 2. They closed the year with their best fourth quarter sales ever, which lifted full-year sales to $1.06 billion – a new all-time high, and the first time above $1 billion since 2019 (when sales were $1.05 billion). Fourth quarter sales were CA$221 million, up 10.9 percent from $199 million during the same period last year, driven by “strong omnichannel sales” and “improved pricing strategies.” The net loss for the quarter was $23.4 million, $16.1 million less than last year. Those full year sales of $1.06 […]
Harper Earnings Reflect Supply Chain and Production Costs
News Corp. reported results for their fiscal third quarter 2022 ended March 31 after the close of the market on Thursday, with Harper Collins recording sales of $515 million, up 5 percent overall from $490 million a year ago. Adjusted sales declined 1 percent, however. The overall growth includes $37 million from recent acquisitions (most of that from Houghton Mifflin Harcourt) — offset by $6 million in negative currency exchange and $14 million less in Bridgerton sales than a year ago, along with unspecified “lower sales” in children’s and foreign language books. A year ago, the publisher reported a particularly […]