Publishers

Scholastic reported sales for their fiscal fourth quarter, ending May 31, of  $514 million, up 5 percent (or $26 million) from a year ago, “reflecting higher sales in all of the company’s three segments – children’s book publishing and distribution, education, and international.” Operating income of $58.4 million was up from $33.5 million a year ago, though full-year earnings look to be below the guidance that was lowered a quarter ago, though free cash of $46.3 million was better than projected, “as a result of the timing of new investments.” But regular “one-time” charges continue, however; mostly non-cash charges of $12.7 million related to their headquarters renovation of its headquarters […]

Wiley reported fourth quarter and full fiscal year results on Tuesday morning, with final quarter sales falling $7 million, to $434 million, and sales for the year declining $95.5 million, to $1.727 billion. The same factors that held back fiscal 2016 results — foreign exchange losses due to the weak British pound, and continuing declines in book publishing, balanced out by gains from shifting to time-based journal subscription agreements — leave the company with guidance of “flat” sales and declining adjusted earnings per share, falling “by mid single-digits.” They expect “marginally lower operating income due to the continued book decline and investment […]

Bloomsbury is reorganizing itself again (the last time was in 2011), simplifying its structure to Consumer (trade) and Non-Consumer division, while declaring its intention “to become primarily a non-consumer publisher in the B2B academic and professional information market.” Driven in part by a new digital publishing plan, the company “aims to become the go-to scholarly partner for copyright holders looking to reach Higher Education institutions around the world, but who lack the expertise and infrastructure to do so effectively.” That means a “repositioning in the market from a primarily consumer publisher to a digital B2B publisher” by 2020. Richard Charkin will step […]

Lagardere reported first quarter earnings, with publishing sales of €415 million down €6 million or 1.4 percent (and declining 2.1 percent on a like-for-like basis). The results include a €5 million contribution from the acquisition of Rising Stars in the UK a year ago. (The Perseus acquisition did not close until April 1 and will be reported in the next quarter.) The company reminds investors “that the first quarter traditionally makes a lower contribution to the year as a whole.” After a big rebound in the fourth quarter of 2015, HBG USA sales fell 10.3 percent. The company blamed a “less intensive…release schedule” and “tough […]

Bertelsmann issued a brief first quarter performance update, with sales rising less than one percent to €3.95 billion, as group profit rose, up €42 million to €185 million. The credit goes to RTL Group’s European broadcasting and international TV production businesses, Arvato’s services businesses, and Relias’ education business (with an assist from the still-strong dollar). CEO Thomas Rabe says in the release, ” We are well on our way to making Bertelsmann a faster-growing, more digital and more international company. Our investments and the progress we have made in implementing our strategy prove this. Since January 1, we have worked in a […]