Bloomsbury released a brief trading update on Tuesday for the four months ended June 30, reporting “strong performance” that was in line with expectations for the year (£319.3 million in sales and £37.6 million in profit before taxation and highlighted items). The company acquired Roman & Littlefield’s academic publishing business during the period, which they expect will boost their Bloomsbury Digital Resources sales from £27 million in 2023/24 to £41 million in 2027/28. “The enlarged Academic business will focus on wider international sales, subject area expansion and continued innovation in digital scholarship and learning,” they said in a release. “The […]
Earnings Reports
BNED Looks Forward to Normal Payables, Lower Interest Costs
After a completing complicated refinancing plan, Barnes & Noble Education released earnings for the fourth quarter and full year ended April 27, 2024. Results were in line with their preliminary report from May: For the year, sales were up 1.6 percent to $1.57 billion, owing to major growth in the First Day Complete business, and offset by the closing of several store locations. Net loss was $(62.5) million, compared to $(90.1) million the previous year. Adjusted EBITDA was $45.2 compared to a loss of $(8.1) million in 2023. The company said in a release that “due to vendors tightening payable […]
Wiley Sales Grow Due to AI Deal
Wiley announced fourth quarter and full year earnings for the period ended April 30, marking a turnaround for the company. For the fourth quarter, including held for sale or sold assets, sales were down 11 percent to $468 million and operating income fell 17 percent to $69 million. Excluding those assets at constant currency, adjusted sales were up 4 percent to $441 million and adjusted EBITDA gained 7 percent to $125 million. For the year, sales were down 7 percent to $1.873 billion with operating income down 6 percent to $52 million. Adjusted sales were $1.617 billion, down 1 percent, […]
BNED Releases Preliminary Fourth Quarter Data, Loses More Money
Barnes & Noble Education released preliminary results for the fiscal year ended April 27. Sales are expected to comprise $236 million for the fourth quarter — compared to $242 million a year ago — and the net loss from continuing operations was roughly $28.5 million, capping yet another year of losses. For the full year, they expect sales to register $1.567 billion, compared to $1.543 billion the year before. The net loss from continuing operations is estimated at $(63) million (with no data for now on the total loss), compared to $(90) million a year ago. Non-GAAP adjusted EBITDA was […]
Simon & Schuster Reported to Have Weak Fourth Quarter
Simon & Schuster provided “a financial snapshot” to its lenders ahead of fully audited results for the fourth quarter of 2023 and the first quarter of 2024 that reportedly show full-year 2023 sales fell by 8 percent, Bloomberg reports. That would represent a big fall off in the final two months of 2023. It suggests fourth quarter sales were approximately $226 million — down from $314 million in 2022, and $268 million in 2021. Paramount Global indicated sales in October were $101 million, which would mean sales for the last two months of the year were $125 million. While that’s […]
Bloomsbury Breaks Records
Bloomsbury released preliminary results for their full year ended February 29, with sales up 30 percent to £342.7 million. Profit before taxation and highlighted items was £48.7 million, a 57 percent increase. Both sales and earnings set a record for the company. In a release, CEO Nigel Newton said, “This dramatic increase arises from our entrepreneurial diversification strategy which has forged a portfolio of portfolios combining consumer and academic publishing across formats, territories and subject areas, a resilient model delivering long-term success.” But that’s really not the story the results show. The company’s growth comes from consumer sales—driven by Sarah […]