We wound up discovering and deriving more information about Penguin Random House’s results from further review of their annual reports yesterday (which disclose breakdowns not offered up in their standard earnings releases). Most importantly, looking back at Bertelsmann’s 2013 annual report, we established a comparison baseline for 2013 results for Penguin Random House. That report said that if Penguin’s results had been incorporated for the full year (instead of just the last six months), 2013 book publishing sales for Bertelsmann would have been €3.248 billion overall — with PRH contributing €2.986 billion and the rest coming from PRH Germany. So we can […]
Publishers
With First Full Penguin Random House Annual Results, Dohle Says “We Are Stronger Together”
Bertelsmann reported financial results for 2014 on Tuesday morning, providing the first look at a full year’s worth of performance for the merged Penguin Random House. (A year ago, the 2013 report incorporated only six months worth of Penguin’s sales.) The trade publishing giant had combined sales of €3.324 billion for the year, including Random House Germany, which is still owned entirely by Bertelsmann outside of the PRH joint venture. Operating EBITDA rose in line with sales, to €452 million, “driven by numerous major bestsellers, especially in the field of children’s books, as well as tie-ins to popular movies and TV series and […]
Revenue Gains on Bigger Losses for Scholastic’s Third Quarter
Scholastic reported third quarter sales of $382.1 million, up 2 percent (or $8.6 million) from a year ago, “largely driven by strong sales in children’s books, especially in the company’s school-based distribution channels, higher circulation of the company’s classroom magazines, and increased sales of classroom books and literacy initiatives.” But Scholastic reported a third quarter loss of $22.1 million, or 68 cents a share, versus a loss of $12.1 million (or 38 cents a share) a year ago, because of greater one-time charges and the end of a tax benefit that boosted the company at the same time last year. […]
Quarto Revenue and Profit Gain Throughout 2014
Quarto Group reported results for the year ending December 31, 2014, with sales up 2 percent to $172.6 million (a increase of $3.4 million) and operating profit up 10 percent to $15.4 million (an increase of $1.4 million). CEO Marcus Leaver said in the release, “In 2014, Quarto started to deliver on its potential following a year of tactical reorganization. The business has been simplified and focused and is beginning to deliver on its strategic priorities. The second half of the year was strong and this has given us momentum into 2015.” Chairman Tim Chadwick added: “We have made good […]
Lagardere’s Profit Falls Along with Sales
Having already reported sales for 2014 a month ago, in the European style Lagardere followed up on Wednesday afternoon with a full accounting of their profits for the year as well. On those sales of €2.004 million (down 3 percent), recurring EBIT fell further, down €26 million or 12 percent to €197 million. EBIT, after non-recurring/non-operating items, declined €23 million to €169 million. Despite the weaker year, publishing still accounts for over half of parent company Lagardere’s total earnings (but 28 percent of sales). Per our previous estimates, Hachette Book Group in the US and Canada comprised 24 percent of publishing sales, […]
Wiley Grows in Q3, But Book Sales Still Decline
Wiley reported adjusted third quarter sales of $466 million, up 2 percent including foreign exchange, while adjusted operating income of $78 million was flat (with net income rising $3.5 million). The company took charges of $24 million in the quarter related to their ongoing restructuring program, of which half was due to prior restructurings of facilities and the other half due to severance costs. The company’s reduced trade book lines remain part of the “professional development” segment, where adjusted revenue 17 percent to $108.6 million, largely attributed to the recent acquisitions of CrossKnowledge (which contributed $16.2 million in revenue) and Profiles International […]