UK independent publisher Faber has reported a second consecutive year of poor results. Reporting on a delayed basis — the latest figures are for the 12 months ending March 2015 — sales fell 1.8 percent to £15.9 million and the company recorded a significant operating loss of £813,000. That loss includes a “substantial one-off restructuring cost.” The company eliminated eight jobs in March. In the prior year, sales had fallen 18 percent to £16.26 million, and earnings went from more than £2 million to just below even. CEO Stephen Page tells The Bookseller, “Our view is that we have to be careful about what we publish […]
Earnings Reports
WATCHMAN and GREY Can’t Save Books A Million From Another Tepid Second Quarter
Books-A-Million said sales for the second quarter ending August 1 dipped 0.4 percent to $107.9 million. Same-store sales dropped 0.3 percent, while their net loss of $5.8 million, or 41 cents per share, nearly doubled compared to a $3 million net loss a year ago. The quarterly results also include “higher income tax expense due to the recording of a non-cash valuation allowance and the reversal of previously recorded income tax benefits.” President and ceo Terrance Finley admitted in the release that the “phenomenal sales” of Harper Lee’s GO SET A WATCHMAN — which he had earlier categorized as the fastest-selling […]
Perseus Builds to Higher Sales
Perseus Books Group ceo David Steinberger dispatched his annual letter to employees after the June 30 close of their fiscal year earlier than usual, noting: “In reflecting back on last year though, the real place to start is August 7th 2014, when we announced the Hachette transaction would not go forward.” Though “it was inevitably a distracting time,” Steinberger says that “our people and our company moved forward with our signature resolve,” reporting that, “In fact, this year our in-house and client publishers combined to generate higher total sales than in any year in our history.” In particular, “Our client service business […]
Quarto Flattens In Quiet Half of Year
Quarto Group reported results for the first half of 2015, with sales increasing slightly (up 1 percent, or $0.6 million) to $66.2 million. Adjusted operating profit fell to $200,000, from $600,000 the prior year, “reflecting an expected shift in seasonality” — and Quarto records almost two-thirds of their sales in the second half of the year — with an operating loss this time around, and a loss before tax of $1.9 million. CEO Marcus Leaver said in the release he was “pleased that we have continued to make good progress in the first half of 2015. This is a solid set […]
“Core” Harper Ends Fourth Quarter and Fiscal Year Down Slightly, News Corp. Takes Big Charge on Amplify
News Corp. reported results for their fourth quarter and full fiscal year, ending June 30, on Wednesday after the close of the market. HarperCollins had sales of $390 million, up 8 percent from $361 million a year ago and EBITDA of $33 million in the fourth quarter, flat compared to the same period last year. But in “adjusted” sales, leaving aside Harlequin’s results, Harper sales fell 9 percent in the final quarter, down $33 million to $328 million, and EBITDA fell 18 percent, down $6 million, to $27 million. Harlequin added $73 million in sales for the quarter, and foreign exchange provided […]
At HMH, Trade Is Flat As Education Falls On Adoption Cycle
Houghton Mifflin Harcourt reported second quarter sales on Thursday morning, with trade division sales flat at $37 million, supported by continuing strong sales from their culinary line, including the bestselling April release The Whole30. But that unit had lower EBITDA, of just $412,000, compared to $1.94 million a year ago, with a net loss of -$3.14 million, bigger than the $1.75 million loss a year ago. Companywide sales declined $22 million (or 5 percent) to $380 million “primarily due to the anticipated contraction” in the textbook adoption cycle. Sales would have $18 million lower without the contribution from their acquisition of Scholastic’s EdTech […]