Wiley reported results for their fiscal third quarter, ending January 31, with sales of $456 million (up $20 million, though down 1 percent measured in constant currency), and operating income of $67.4 million (up $16.2 million). For the second quarter in a row, publishing sales were stronger than the recent downward trend: STM and professional…
Earnings Reports
Barnes & Noble Plans 5 More New Stores, Takes Big Charge After Poor Holiday
“Even when an organization is working with a sense of urgency…turnarounds take time,” Barnes & Noble ceo Demos Parneros told investors on this morning’s third quarter conference call, after reporting a poor holiday quarter (in line with their previous warning), layoffs, and a big non-cash charge. His job on the call was to assure investors…
Barnes Education Sees Sales Gains, Takes Huge Writedown
Barnes & Noble Education reported its third quarter results for the 13-week period ending January 27. While sales of $603 million increased $82 million, or 15.7%, as compared to a year ago, BNED incurred a net loss of $283 million, compared to net income of $3.8 million the prior year. The recent acquisitions of MBS…
Pearson to Sell Weak US K-12 Courseware, PRH Up “Slightly”
Pearson reported full-year results for 2017 on Friday morning. The most significant news was official confirmation that, as the company suggested last May, they will indeed sell off their US K-12 courseware publishing business. They are “in discussions with potential buyers regarding a disposal of the business.” That will be the last big step in the…
Houghton Mifflin Harcourt Finishes with Some Improvement, As Trade Remains Strong
Houghton Mifflin Harcourt ended a rough year with signs of improvement, as fourth quarter sales of $261 million were up $19 million from a year ago, with positive EBITDA of $5 million, compared to $(19) million a year ago. As was the case all year, the small trade division was the big bright spot for…
Simon & Schuster Finishes with Strong Fourth Quarter, Record Full Year Profits
CBS reported fourth quarter and full-year earnings on Thursday afternoon, with Simon & Schuster registering strong sales of $235 million in the final quarter, up $26 million from a year ago (helped in part by the addition of Adams Media, acquired in November 2016). Operating income was $44 million, up from $36 million at the…