Scholastic reported results for their first first quarter, ending August 31, traditionally their smallest reporting period, with sales rising measurably. They had revenues of $260 million, compared to $215 million a year ago. Trade sales rose almost 20 percent to $93 million (compared to $73.3 million a year ago), attributed to backlist and strong series sales, with their education solutions division gaining $26.5 million, at $80 million for the period. “Summer learning product offerings [were] bolstered by federal government funding for K-12 schools,” the company noted. The higher sales help to mitigate the seasonal loss: The pre-tax loss was $(33.3) […]
Publishers
After Record Growth, News Corp to “Return Proceeds to Shareholders”
News Corp announced Wednesday that, as a result of booming revenues, the company is “returning proceeds to shareholders,” ceo Robert Thomson said during the Goldman Sachs Communacopia Conference. Since 2020 was “the best year since the reincarnation of News Corp in 2013,” with EBITDA up 26 percent, the board of directors has authorized a new $1 billion stock repurchase program. This plan replaces a $500 million stock repurchase program that went into effect in 2013. News Corp’s stock had gone down 10.1 percent over the past three months, and rose 0.6 percent after this announcement. At the Communacopia Conference, Thomson […]
Streaming, Print Revenues Up at Storytel, But Moderated Forecast Hits Stock
Swedish ebook streaming service and publisher Storytel reported results for the second quarter ended June 30, with streaming sales of SEK545.5 million ($64.7 million), up from SEK459.1 million a year ago, or 18.8 percent. Print publishing sales were SEK149.96 million, up from SEK126.74 million, or 18.3 percent. Pre-tax loss for the quarter was SEK(132.8) million, compared to a loss of SEK(72.6) million in Q2 2020. (As in the past, the company expects loss while in this growth mode.) During the quarter, Storytel acquired Finnish publisher Aula & Co. They expect the partnership with Spotify, announced in May, to be implemented […]
Sales Rise at Wiley
Wiley reported a strong fiscal first quarter, with sales of $488 million, up 13 percent from $431 million a year ago. Operating income rose more, to $41 million, up 36 percent from $30 million last year — though net income declined, due to a $20.7 million non-cash deferred tax expense following an increase in the UK’s corporate tax rate. Foreign exchange contributed $16.7 million in sales, and $3.7 million in adjusted EBITDA. The Academic & Professional Learning segment, which includes their trade/professional and education book publishing, was up 10 percent. Education publishing sales were $66.4 million, up $2.8 million, and […]
Strong Fourth Quarter Gives Harper Record Sales and Earnings for Year
News Corp. reported fiscal fourth quarter and full year sales after the close of the market on Thursday, with record profits companywide, as well as at Harper Collins. For the fiscal fourth quarter, Harper’s sales of $493 million were up significantly from $407 million a year ago (but also from $419 million two years ago). EBITDA was up just $1 million, to $48 million, after a surprisingly profitable quarter a year ago even on lower sales. Earnings were “partially offset by higher costs related to the acquisition of HMH, increased sales volume and the mix of titles, as well as […]
S&S Sales Were $219 Million
Following ViacomCBS’s release of their form 10-q for the second quarter, we can see that Simon & Schuster had sales of $219 million — rebounding from $200 million in 2020, and in line with the $218 million recorded in 2019. Operating income looks to have been $52 million, versus $35 million a year ago. Previously, the company reported OIBDA for the publisher, which was $38 million in 2020.