Quarto Group reported results for the first half of 2015, with sales increasing slightly (up 1 percent, or $0.6 million) to $66.2 million. Adjusted operating profit fell to $200,000, from $600,000 the prior year, “reflecting an expected shift in seasonality” — and Quarto records almost two-thirds of their sales in the second half of the year — with an operating loss this time around, and a loss before tax of $1.9 million. CEO Marcus Leaver said in the release he was “pleased that we have continued to make good progress in the first half of 2015. This is a solid set […]
Publishers
“Core” Harper Ends Fourth Quarter and Fiscal Year Down Slightly, News Corp. Takes Big Charge on Amplify
News Corp. reported results for their fourth quarter and full fiscal year, ending June 30, on Wednesday after the close of the market. HarperCollins had sales of $390 million, up 8 percent from $361 million a year ago and EBITDA of $33 million in the fourth quarter, flat compared to the same period last year. But in “adjusted” sales, leaving aside Harlequin’s results, Harper sales fell 9 percent in the final quarter, down $33 million to $328 million, and EBITDA fell 18 percent, down $6 million, to $27 million. Harlequin added $73 million in sales for the quarter, and foreign exchange provided […]
At HMH, Trade Is Flat As Education Falls On Adoption Cycle
Houghton Mifflin Harcourt reported second quarter sales on Thursday morning, with trade division sales flat at $37 million, supported by continuing strong sales from their culinary line, including the bestselling April release The Whole30. But that unit had lower EBITDA, of just $412,000, compared to $1.94 million a year ago, with a net loss of -$3.14 million, bigger than the $1.75 million loss a year ago. Companywide sales declined $22 million (or 5 percent) to $380 million “primarily due to the anticipated contraction” in the textbook adoption cycle. Sales would have $18 million lower without the contribution from their acquisition of Scholastic’s EdTech […]
Simon & Schuster Continues to Profit On Lower Sales
CBS reported second quarter earnings on Wednesday afternoon, with publisher Simon & Schuster registering their fourth straight quarterly decline in sales — down $12 million, to $199 million — even as their earnings grew, with OIBDA of $27 million (and operating income of $25 million) compared to $24 million a year ago. As usual, CBS said “the revenue decline was more than offset by lower production and distribution costs.” Sales had jumped in this quarter a year ago, helped by Hillary Clinton’s Hard Choices and other big print sellers. Over the past 4 quarters, sales have declined by $55 million. […]
Indigo Improvement Continues
Canada’s Indigo reported first quarter results on Tuesday, with sales rising $4.1 million (CA) to $184.9 million, and a reduced net loss of $9 million, compared to a loss of $14 million a year ago. As in the previous year, “revenue growth was driven by the continued double digit growth of the general merchandise business” with “growth in both paper and electronics.” There was some growth in “the print business” on a same-store basis, too. The superstores had 5.3 percent same-store growth, while the smaller format store comps declined 1 percent, and online grew 18.2 percent, up to $24 million (also with double […]
Lagardere Reports Publishing Declines, Particularly For Hachette US
Lagardere reported first-half of the year results after the close of the market in France on Thursday. Sales at Lagardere Publishing were 547 million euros in the second quarter (up 37 million euros), down 3.4 percent on a like-for-like basis for the quarter but up 7.1 percent in actual results on the strength of the US dollar and pound sterling. For the first half of the year, sales were 968 million euros (also up 7.1 percent but down on a like-for-like basis), but earnings fell to just 36 million euros, down 28 percent from 50 million euros a year ago (which itself […]