Quarto Group reported results for the first half of 2014, with sales down 3 percent to $65.6 million (declining $6.6 million) and operating profit down slightly at $2.77 million (dropping more than $200,000). CEO Marcus Leaver said in the release, “Despite a tough first half we expect the new product and the marketing & sales initiatives that we invested, in 2013, to deliver a strong second half in our publishing businesses. There are positive signs of the turnaround we targeted in the Books & Gifts Direct business in Australia and New Zealand. The Group should deliver earnings growth in 2014 as […]
Publishers
S&S Second Quarter Sales and Profits “Stronger Than Originally Projected”
Simon & Schuster reported sales of $211 million for the second quarter, up 11.6 percent — a significant improvement compared to the same time a year ago and what parent company CBS said was due to “higher print book sales” by titles such as HARD CHOICES by Hillary Clinton, GOOD CALL by “Duck Commander” star Jase Roberston, and CITY OF HEAVENLY FIRE by Cassandra Clare. CEO Carolyn Reidy told us the company “had a strong quarter, with terrific books” not only because of the success of key titles, but because of “all around strength” across all imprints. “Every one of […]
Strong Profits, and DIVERGENT, Give Big Finish For Harper’s Fiscal Year
News Corp. reported results for their fourth quarter and full fiscal year, ending June 30. HarperCollins had sales of $361 million, up 10 percent from $329 million a year ago and EBITDA of $33 million in the fourth quarter, up 50 percent from the $22 million reported for the same period a year ago For the full year, they recorded sales of $1.434 billion and EBITDA of $197 million. That compares to sales of $1.369 billion and EBITDA of $142 million in fiscal 2013. The company said the higher earnings benefited from “the higher contribution to profits from ebooks and […]
Courier’s Publishing Division Declines Again
Courier reported third quarter earnings, as their publishing business continues to shrink. Sales of $8.5 million were down 4.4 percent, though the operating loss of $493,000 was a small improvement, almost half the operating loss at the same time a year ago. Sales were flat at Dover and their REA line but down at Creative Homeowner, with their REA line growing 2 percent and Dover bolstered by their Creative Haven line of adult coloring books. Operating results improved at both Dover and REA, with REA showing a profit both for the quarter and for the year to date. Companywide, sales […]
Amazon Dispute Has “Limited” Or No Effect on Lagardere Publishing Results
Lagardere reported first-half of the year results after the close of the market in France on Thursday. Sales at Lagardere Publishing were 510 million euros in the second quarter (up 12 million euros) — and 903 million euros for the full first half, up 2.5 percent on a like-for-like basis for the quarter but down 1.5 percent (or 14 million euros) in actual results because of foreign exchange. Earnings did fall to 51 million euros, down 28 percent from 71 million euros a year ago, due to an “exceptionally rich” publishing program in the first half of 2013. The company answered the big […]
Sales Slide At Harlequin, With Sale Now Expected Within Days
Harlequin’s current parent company Torstar announced second quarter results on Wednesday morning, and the company said it now “anticipate[s] closing the transaction on or about August 1” to sell Harlequin to HarperCollins. They have “received the regulatory clearances and approvals required,” and “while the transaction remains subject to certain customary closing conditions, the parties continue to work toward satisfying these conditions.” Torstar expects to book a gain of approximately $225 million on the sale. For the second quarter, Harlequin’s sales fell $3.1 million to $96.4 million, and net income fell $4 million, to just $1.6 million. The company had $2.3 million […]