Wiley reversed three straight quarters of overall declines (and five consecutive quarters of declines in their professional/trade segment) as sales rose 4 percent to $448 million and operating profit (before a one-time charge) rose 7 percent, to $75.3 million. A small one percent drop in their big STM division, at $251 million, was more than made up for by a 14 percent gain in higher ed, at $77 million, and in the the professional/trade line, which rose 9 percent to $120 million. Trade “sales growth was strongest in the US, UK, Germany, and Australia” and major accounts are ordering again […]
Publishers
Modest Growth At S&S
Simon & Schuster managed to grow both sales and income in their fiscal third quarter, albeit modestly, as sales rose 2 percent to 230.4 million, OIBDA was up 10 percent to $28.4 million, and operating income rose 14 percent of 26.6 million. The sales gain is attributed to “the timing of the release of titles” while the rise in profits was “primarily due to revenue growth, partially offset by higher write-offs of advances for author royalties.” As CEO Carolyn Reidy noted, “we paid for these books in a different environment” and “when sales are down, royalty writeoffs are up–it’s a […]
Even with Ambitious Comp, Lagardere Publishing Still Growing
Lagardere’s publishing unit reported another sales increase for their fiscal third quarter, up 4.5 percent at 684.6 million euros, even though the period is compared against the beginning of the big Stephenie Meyer breakout in July 2008. The company also had to contend with a weakened dollar and a still-weak pound, yet at HBG US, “the pace of sales growth remained very strong through the summer at over 15 percent despite a tough comparative.” Looking forward the company does concede that publishing “faces a particularly challenging fourth-quarter comparative, as the success of the Stephenie Meyer saga drove like-for-like sales growth […]
More Reports, from Courier, Quarto and Canongate
In other corporate earnings reports, Courier finished a tough year down 10 percent in sales in the fourth quarter. Their publishing unit–comprising Dover, the recession-struck Creative Homeowner, and Research & Education Association–dropped another 28 percent in sales for the quarter, at $11.9 million, though much of gap is due to Creative Homeowner discontinuing its distribution operation earlier in the year. The group had operating income of $928,000 for the period, down from $1.3 million a year ago. For the full year, the publishing group’s sales were $46.8 million, down 24 percent from $61.9. The company says Dover and REA were […]
Harper Back in Black As Sales Slide Diminishes
Sales continued to fall at HarperCollins for the fifth consecutive quarter though the declines have mitigated considerably, this time sliding $5 million to $310 million for their fiscal first quarter. More importantly, operating income improved considerably, breaking a string of two straight losses, at $20 million–compared to income of just $3 million this time a year ago. The company cites “higher sales at the children’s and general books divisions, as well as reduced operating expenses from restructuring efforts in the prior year” as the major contributing factors. (Harper’s results loosely mirrored parent company News Corp., where overall sales fell more […]
Another Good Quarter for Harlequin
Harlequin continues to outshine parent company Torstar’s other assets as the book publisher turned in another positive quarter even as overall results at Torstar declined. Harlequin reported sales of $122.5 million (Ca), up 3.7 percent from a year ago, though most of the growth was due to a stronger Canadian dollar. The company says “growth in North America direct-to-consumer and overseas revenues more than offset declines in North America retail.” Operating profits rose 22 percent to $22.9 million, with almost half the gain coming from foreign exchange. Torstar says “at Harlequin, we anticipate stable results in the fourth quarter including […]