Wiley reported earnings for the first quarter of fiscal 2020, ending July 30, with sales of $423.5 million. Results were $12.6 million higher than a year ago, but that includes $15 million in revenues from the acquisition of ZyBooks in July. The company took a restructuring charge of $11 million for severance and other costs as part of their “multi-year business optimization program.” (That’s actually below the forecast of a $15 million to $20 million charge in the quarter. On the investor call, cfo and evp John Kritzmacher said the lower charge reflects more work to be done on their […]
Publishers
Penguin Random House Has Strong First Half Profits, Is Lifted by Continuing Bestsellers and Acquisitions
Bertelsmann reported results for the first half of the year on Thursday, with sales at Penguin Random House+ (the PRH joint venture, plus the separate Random House Germany) registering €1.650 billion, up €168 million from a year ago. Operating EBITDA grew to €227 million, up €56 million compared to the first half of 2018. As PRH ceo Markus Dohle celebrated in his letter to staff, “Penguin Random House’s top- and bottom-line revenue is up overall in most of our key markets.” Bertelsmann attributed the gains to strong bestsellers (Michelle Obama’s BECOMING — which sold another 2.8 million units in the […]
Quarto Loses A Little Less Ahead of “Particularly Challenging” Fall; BNED Sets Meeting, and More
Quarto released half-year results for 2019, reporting an improvement in earnings — which is to say, a smaller loss — amidst a prediction of a challenging second half of the year. Revenue was up slightly to $56.4m, from $56.2 million in the first half of 2018, but those sales were spread across fewer books, as part of the company’s cost-reduction program. The total operating loss was $(1.2) million, an improvement from $(4.7) million in last year’s period; adjusted loss before tax was $(4.0) million compared to $(6.6) million. The company suggests that the “net debt [has] reduced significantly,” but that’s […]
McGraw-Hill Reports Improved Q2 Results, DOJ “Second Request” For Merger Info
McGraw-Hill reported top and bottom line progress in Q2, touting the success of its digital offerings, which now comprise 51 percent of total billings. Sales of $385 million for the quarter were flat, while total billings of $394 million were up $41 million from a year ago. Meanwhile, the cost of servicing its $2.1 billion dollar debt continues to chew through the company’s earnings. The quarter showed a net loss of $42 million — thanks to $47 million spent paying off interest. The comprehensive loss was higher, at $51 million, a little better than the $54.5 million loss in Q2 […]
Harper Has Weaker Fourth Quarter, But Closes Fiscal Year with Record Earnings
News Corp. reported fiscal fourth quarter earnings on Thursday afternoon, as HarperCollins recorded a comparatively poor fiscal fourth quarter, with sales of $419 million, down $71 million from the previous year. But it was more of a return to normal, since a year ago they were up $83 million for quarter versus the same period 2017 — boosted in part by $28 million of revenue from Amazon Studios’ television license for J.R.R. Tolkien’s The Lord of the Rings trilogy. (For Q4 2017 sales were $407 million; for Q4 2016, sales had been $433 million.) Sales also look lower because of […]
Simon & Schuster Continues to Build Sales and Profits
CBS reported second quarter earnings on Thursday afternoon, with sales at Simon & Schuster up $11 million (or 5.3 percent) to $218 million — a new company high for the second quarter, and their best since 2014. The publisher also extended their long streak of increased profits, recording their eighteenth consecutive quarter of gains: Operating income of $33 million was up $2 million from a year ago. The gains were attributed to “higher print book and digital audio sales,” with top releases including Howard Stern Comes Again by Howard Stern and The Pioneers by David McCullough. CEO Carolyn Reidy said […]