Wiley reported results for their fiscal third quarter, ending January 31, with sales of $456 million (up $20 million, though down 1 percent measured in constant currency), and operating income of $67.4 million (up $16.2 million). For the second quarter in a row, publishing sales were stronger than the recent downward trend: STM and professional publishing sales of $80.8 million were up from $76.9 million a year ago, and education publishing sales of $48.4 million were down slightly, versus $50.3 million a year ago. CEO Brian Napack said in the release: “We continue to see good momentum in the business, […]
Publishers
Pearson to Sell Weak US K-12 Courseware, PRH Up “Slightly”
Pearson reported full-year results for 2017 on Friday morning. The most significant news was official confirmation that, as the company suggested last May, they will indeed sell off their US K-12 courseware publishing business. They are “in discussions with potential buyers regarding a disposal of the business.” That will be the last big step in the company’s strategy that if they sell enough of their disparate parts, what’s left behind will finally, a few years down the road, perform well. The new euphemism for this is “simplification,” which they say will make them a “leaner and more agile business.” At Penguin […]
Simon & Schuster Finishes with Strong Fourth Quarter, Record Full Year Profits
CBS reported fourth quarter and full-year earnings on Thursday afternoon, with Simon & Schuster registering strong sales of $235 million in the final quarter, up $26 million from a year ago (helped in part by the addition of Adams Media, acquired in November 2016). Operating income was $44 million, up from $36 million at the end of 2016. For the full year, sales of $830 million were $63 million higher than a year ago, and operating income hit a new record of $132 million, up $13 million from a year ago. S&S had paid approximately $42 million to purchase Adams Media, […]
Lagardere Publishing Finishes Just Above Flat on Acquisitions, As HBG USA Gains in Fourth Quarter
Lagardere Publishing reported fourth quarter and full-year sales results on Thursday (and, in the European tradition, will not report earnings and complete 2017 details until March). Acquisitions lifted the group just above previous results, rebounding from a soft third quarter, with fourth quarter sales of €624 million (up €5 million), and full year sales of €2.289 billion (up €25 million). Acquisitions added €7 million in the fourth quarter, and €33 million in the full year, meaning performance was down slightly without those additions. The company blames that on the weak British pound — and in the year to come the weaker US dollar will […]
Open Road Grows On New Business Lines, Reinvests to Grow More
Open Road celebrated a year in which refocusing on consumer marketing and continuing to build their customer base and service offerings has put the company in what they call “the most solid financial position of its history,” forecasting more “strong growth in the coming year.” In conjunction with that press release, ceo Paul Slavin and cfo Daniel Shemesh spoke with Publishers Lunch to share specific details about their performance for the first time. “It’s important we don’t get pegged as a publishing company, looking at unit sales,” Slavin said. “We’re about growing revenues by growing the number of consumers we […]
Corporate: Pearson Celebrates the Mediocre, UMB and Informa Try Again
Despite Pearson’s recent string of disappointing results, which have wiped out half of the company’s market value over the past two and half years, their official releases maintain an orderly calm, using various comparison stats to make their world seem stable. The newest trading update fits squarely in that genre; they expect that full-year earnings will be at the higher end of their very modest guidance — if only the dollar had not dropped in value against the pound, so actual profit is below that guidance (but it’s not their fault). And while they are “expecting growth” in 2018, given […]