Lagardere reported financial results for the second quarter, with publishing sales of €726 million, down just under 1 percent as reported and 2 percent on a like-for-like basis, compared to €733 million last year. The difference between the reported and like-for-like comparisons are due to the November acquisition of Sterling Publishing and April acquisition of 999 Games. Looking at the first half of the year, sales were €1.35 billion, up 3 percent as reported and 1 percent like-for-like. The company attributes the sales growth to strong performance in the UK and increased board game sales. Recurring EBIT fell 6 percent […]
Earnings Reports
BNED Delays Annual Reporting Due To Accounting Errors
Barnes & Noble Education filed for an extension with the SEC, noting that they can’t file their annual financial report “within the prescribed time period without unreasonable effort or expense.” The company has launched an investigation due to “certain information regarding the recording of cost of digital sales.” The investigation is ongoing, but the company believes that there “may have a potential overstatement of up to $23 million in the aggregate to its accounts receivable balance” due to “overstatements and understatements to its cost of sales during the fiscal years 2024 and 2025, impacting results of operations in those periods.” […]
Bloomsbury Confirms Lower Expectations for The Year
Bloomsbury released an innocuous looking trading update ahead of today’s annual meeting, saying they expect results for the fiscal year ending in February 2026 to be “in line with consensus expectations” — which they express as £336 million in sales and £41.6 million in profit before taxation and highlighted items. What’s unsaid is those figures are lower than their previous expectations, announced in May, when they expected results to be “broadly in line with current consensus expectation” of £349 million in sales and £45.1 million in profit before taxation and highlighted items. The new profit guidance is 7.8 percent lower […]
Scholastic Reaffirms Plan to Raise Cash from Real Estate, Forecasts Improved Earnings
With its stock continuing to languish, Scholastic issued an earnings update, reversing the small down grade in profits from last quarter. The company is now back to expecting adjusted EBITDA for fiscal 2025 to range between $140 million to $150 million. That was the original guidance before a “subsequently narrowed outlook” after the fiscal third quarter in March. The company cites “successful cost management and solid execution in the fourth quarter.” Following up on ceo Peter Warwick’s statement in March underscoring the value of their “non-operating assets that could be monetized, if and when the company chose to” — pointing […]
Wiley Finishes Fiscal Year with Improved Profits, Forecasts More Gains
Wiley reported results for their fiscal fourth quarter, ending April 30, and full fiscal year. Sales for Q4 were $443 million, down $25 million “due to foregone revenue from divestitures,” with adjusted sales “essentially even” at constant currency. Operating income rose, however, up $7.7 million to $76.5 million, though adjusted EBITDA was “essentially even.” Due in part to a tax benefit, net income was much higher than last year, at $68 million, compared to $25 million a year ago. The Learning segment had sales of $162 million for the quarter, down 5 percent. But the company reported “strong demand for […]
Bloomsbury Sales Flatten and Profits Fall, as the World Waits for a New Maas Book
Bloomsbury reported preliminary results for the full year ended February 28, with sales up 5 percent to £361 million, from £343 million a year ago — though organic sales were flat, since Roman & Littlefield contributed £19.8 million in sales in the nine months since they joined the company. Profit before taxation and highlighted items fell 14 percent to £42.1 million. This is a big change from the first half of the year, when sales were up 32 percent to £180 million and profits gained 50 percent to £26.6 million. The boom is attributed to the Sarah J. Maas effect, […]