Wiley reported fiscal second quarter results for the period ended October 31, with sales of $533 million, a 9 percent increase from $491 million last year. Adjusted EBITDA was $127.1 million, up from $120.3 million, or 7 percent. Education Publishing sales of $98.6 million were down from $102.4 million last year, “due to softer US enrollment and some easing of prior-year COVID-related tailwinds in content and courseware.” Professional Learning grew 15 percent after last year’s COVID lockdowns, offsetting the Education Publishing decline for a 3 percent lift in the Academic & Professional Learning division overall. The company’s research division grew […]
Earnings Reports
Online Gift Shop Helps High Street Sales at WH Smith
UK book retailer WH Smith reported preliminary results for the year ended August 31. Overall, sales were £886 million, a decline of 13 percent, with group trading loss of £20m, compared to last year’s loss of £43 million. High Street sales were up slightly at £485m, a 4 percent increase over last year, with High Street trading profit at £19m, up from a loss of (£10m) last year. The lift is attributed to the easing of pandemic lockdowns around the world, and the growth of the company’s websites, particularly the “record performance” of their online greeting card and gift business, […]
Indigo Up in Second Quarter
On Tuesday morning, Indigo announced results for the second quarter 2022 ended October 2, with sales of CA$239 million, up 16.3 percent from $205 million during the same period last year. The company proudly proclaimed results as above pre-pandemic levels, but that’s due in part to a string of weak reports for this period since 2017, when sales were $224.5 million. But the biggest difference had nothing to do with operating sales: Revenue was bolstered by a one-time payment of $17 million from Starbucks, as Indigo renegotiated their contract and closed a number of in-store cafes. Net earnings for the […]
Storytel Keeps Growing, But Will Be At Lower End of 2021 Guidance
Storytel reported third quarter results on Friday, with continued strong growth, including an increase of 19 percent in streaming sales and 27 percent in their subscriber base. But full year projections are now at the lower end of the revised guidance given last quarter, sending shares down 17 percent in a short trading day in Sweden. Streaming sales were 583 million SEK, compared to 490 million a year ago, and book publishing sales were 180 million, up 20 percent from 150 million a year ago. The streaming subscriber base was up 27 percent, to 1,724,000. Like many other publishers in […]
Harper Gains On Strong Market, HMH
News Corp. reported fiscal first quarter sales after the close of the market on Thursday, with HarperCollins showing increases “driven by strong sales and the successful integration of HMH.” Sales were $546 million for the quarter, $88 million higher than a year ago. HMH accounted for $50 million, with adjusted revenue or organic Harper sales up 7.2 percent over last year’s $458 million, helped by $7 million in foreign exchange. (A year ago, HMH recorded sales of $55.7 million in the same quarter, including $4 million in licensing revenue for the Carmen Sandiego series on Netflix.) In the conference call […]
Sales Increases at HMH, Bertelsmann
On Thursday, Houghton Mifflin Harcourt reported third quarter earnings for the period ending September 30, with sales of $417 million, up 25.9 percent from 2020. The company reported income of $95 million, up from a loss of ($12) million last year. They claim these are “strong” results, and the company increased their full year billings guidance for the second time, to $1.075–1.095 billion, up from $980 million–$1.02 billion. But the bar was mighty low. Two years ago sales for the same quarter were $566 million (with $48 million from the now-sold trade division). “Underpinning these growth opportunities is a large […]