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 […]
Publishers
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.
HMH Recovers Somewhat From the Pandemic Low
Thursday morning Houghton Mifflin Harcourt reported a “strong” second quarter, with sales of $309 million, rebounding from a terrible result a year ago due to the pandemic — up 43% compared to $216 million in 2020. But that’s still well (12 percent) below the $350 million recorded in 2019 for the same businesses, leaving aside the trade publishing division. The company reported income of $2 million, improved from a loss of ($32) million a year ago and another loss in 2019, so that represents some real improvement. Based on their “robust pipeline” the company excitedly raised their full-year guidance…but only […]
Simon & Schuster Sees Higher Sales, Earnings
ViacomCBS reported second quarter results on Thursday morning, with sales at Simon & Schuster rising off of last year’s pandemic decline, when sales fell $18 million, down to $200 million for the period. As a discontinued operation ahead of the DOJ’s review of the sale to Penguin Random House, actual results were not available when this report was first published, pending the filing of their full 10-q with the SEC. We’ll update after the filing. (For now, VIAC reported net earnings net of tax for all discontinued operations — of which S&S is just one component — of $41 million, […]
Most ViacomCBS Employees Won’t Return to Offices Until At Least Mid-October
ViacomCBS ceo Bob Bakish told employees on Wednesday that most staffers will not start returning to the office until October 18 “at the very earliest,” as the company monitors the Delta variant. Bakish wrote that their broader “green phase,” when most of the employees are expected to resume some office presence, would start in late October and still comprise a hybrid work model at that point. Simon & Schuster follows all ViacomCBS policies. Any employees who return prior to the October 18 date will be required to be fully vaccinated, except for “certain union, production and essential on-site personnel.” Bakish […]