McGraw Hill reported second quarter earnings of $191.1 million; or 61 cents a share, a 16 percent (or $27 million) jump compared with $164.1 million, or 52 cents a share last year — in line with Wall Street expectations of 61 cents per share. Revenue was up 0.6 percent to $1.5 billion. Revenue for the education side increased by 1.8 percent to $565 million, helped by foreign exchange rates that added $3.3 million in revenue and $2.3 million in operating profits. School Education Group revenue declined 4.0%, or $13.7 million, to $324.9 million, affected by a delay in shipping a […]
Publishers
Scholastic Beats Expectations with Robust Q4 and Decent Fiscal Year
Scholastic reported sales from continuing operations in their fourth quarter of $538.4 million, up 9 percent from the prior period. Consolidated earnings per diluted share were $0.79 in the quarter, compared to $0.76 in the prior year period, taking into account a one-time, mostly non-cash expenses of $0.18 per share in the current period and a net one-time item gain of $0.06 per share in the prior period. Their children’s publishing and distriibution division, sales were up 6% to $273.5 million, “outperforming the book publishing and book selling industry during the period.” Segment operating income increased 40% to $50.7 million, […]
Overall Earnings Surge for Courier in Q1, but Publishing Fares Less Well
For the quarter ending June 26, Courier Corporation’s consolidated third-quarter revenues were $64.9 million, up 6% from $59.6 million a year ago, while net income rose to $1.8 million from $1.6 million at this time 12 months ago. Book publishing sales declined 4% to $10.9 million, with sales at Dover were down 6% in the quarter, but up 3% for the year. Total specialty publishing segment revenues were $11.6 million, up slightly from $11.5 million last year. Company CEO James Conway says “Given the uneven state of the recovery, many consumers chose to stay on the sidelines…We did make progress […]
Wiley Finishes Strong; Signs with Apple
Wiley reported fourth quarter sales of $436 million, up 8 percent from a year ago, and full-year sales of $1.699 billion, up five percent. Professional/trade sales rose 18 percent in the period, at $115 million, with growth “particularly in the US.” For the full year, the segment had sales of $430 million, up 7 percent. Trade ebook sales comprised $7 million (less than 2 percent of overall trade), and the company says that it now has an “ebook agreement signed with Apple.” The company took a small $800,000 restructuring charge in the fourth quarter “related to offshoring and outsourcing certain […]
Larsson Windfall Finally Kicks In As Quercus Sales Rise 75%
Sales at the UK’s Quercus rose 75 percent in the past year, now up to 19.13 million pounds as they finally enjoy the river of cash from holding world rights to Steig Larsson’s trilogy. That said, the company–and market–has been troubled enough that they still wrote down a chunk of author advances, impairing profits. Operating profit before tax was 1.19 million pounds. Creditors are nearly getting paid on time now, down from 126 days to 74 days, and with luck that means authors are getting paid on a more timely fashion, too. With the Larsson revenue stream growing constantly, preliminary […]
Sales and Income Improve at Bertelsmann, As Mondadori Sales Decline
In a brief first quarter trading update, Bertelsmann said that sales are up 2.5 percent, at 3.622 billion euros, and group income has returned to profitability at 45 million, compared to 78 million euro loss in the same period a year ago. No divisional data is provided in the quarterly update; those details will come in their half-year earnings report on August 31.Release Elsewhere in Europe, Mondadori also returned to modest profit in the quarter of 2.4 million euros, though their sales declined 2.8 percent to 345 million euros due to lower advertising and circulation. “Mondadori said it would continue […]