On the heels of the Osprey Group selling off Angry Robot, Watkins, and Nourish earlier this month to entrepreneur Etan Ilfeld, the remaining divisions are still potentially up for sale, with Bloomsbury considered to be the most likely buyer, the Bookseller reports. They say the current speculation is that “both Bloomsbury and Hachette were in the running to acquire [Osprey]” but that Bloomsbury is the front-runner. That said, “neither Bloomsbury, Sullivan, Osprey chairman Robin Black nor Alcuin Capital would respond to requests for details of the sale.” Canongate reported strong results for 2013, with full-year sales at £10.4 million, up 7.8 percent […]
Publishers
Sales Rise, But So Does the Seasonal Loss At Scholastic
In Scholastic’s fiscal first quarter, ending August 31, sales rose $7.5 million, up less than 3 percent at $284 million, but their seasonal loss rose more — increasing by the same amount, at $53.4 million, and 16 percent higher than the loss a year ago. (The company generally has a loss in the first quarter, since schools are not in session.) At $1.05 per share, that loss was significantly more than anticipated by analysts, who were expecting a loss of 84 cents a share. But the higher loss did not change the company’s guidance for the full fiscal year. The […]
Wiley Q1 Results Up, But Trade Book Sales Decline
Wiley reported first quarter 2015 results of $438 million, up 4 percent on an “adjusted” basis. Net income of $33.5 million was up 9 percent on a currency-neutral basis, but virtually flat in real terms. The professional development segment, where Wiley’s trade business remains, rose $8 million to $92 million for the quarter, but the gains all came from the recent acquisitions of CrossKnowledge and Profiles International. Revenue was down 3 percent without those acquisitions. Print book sales fell 2 percent to $56 million in this segment, and ebooks actually declined more, down 11 percent to $10.5 million. declined 3 percent for the […]
Creative Homeowner Sold to Fox Chapel
After years of declining sales and operating losses, Courier Corporation has finally sold “certain of its Creative Homeowner publishing assets” to Fox Chapel Publishing, including “more than 100 active titles in home design, home improvement, landscaping and gardening.” The sale price was not disclosed for now (though likely will be in Courier’s next quarterly report). Creative Homeowner has suffered recently as their “largest distribution customer” went out of business earlier this year, resulting in an $825,000 write-off and reduced sales. And CH has suffered for years due to the economy, and loss of business at other key outlets from Borders to Home Depot. Courier […]
Penguin Random House Has Softer Sales (Probably) and Strong Earnings In First Half
Penguin Random House plus the separately-owned Random House Germany together had sales in the first half of 2014 of €1.461 billion, with operating EBITDA of €159 million. (The Santillana trade publishing business was added July 1, after the close of these results.) It is the first time that the combined business has reported sales for the first six months of the year, and while the company did not disclose direct comps to prior performance, sales look to be down by about €40 million, or 2.7 percent, likely from the Random House side (which had Dan Brown’s Inferno in 2013, and […]
Second Quarter Sales Up at HMH, Though Trade Performance Softens
Houghton Mifflin Harcourt reported second quarter 2014 sales of $402 million, up 11 percent, though trade sales for the period fell $2 million (or 5 percent) to $37 million, “as the prior year benefitted from strong net sales of backlist titles associated with the theatrical releases of the movies The Hobbit and Life of Pi.” The company expects the film version of Lois Lowry’s The Giver “could provide ongoing tie-in sales in the coming quarters.” Trade’s adjusted EBITDA was much lower, down $3 million to $2 million. Companywide, HMH had adjusted EBITDA of $109 million, and net income of $12 […]