Last week we reported updated sales figures for HarperCollins–revealed via SEC proxy documents rather than the standard quarterly disclosure–and now we’ve found belatedly that Houghton Mifflin Harcourt has resumed regular public reporting following their bankruptcy reorganization last year. HMH trade finished 2012 with a strong fourth quarter, with sales of $52 million–up a big $16 million from the previous year–and EBITDA of $13 million. The company was boosted by strong movie tie-ins for The Hobbit and Life of Pi. The fourth quarter results include in part the cookbooks and reference books purchased from Wiley in early November for at least […]
Publishers
Quarto to Sell Selected Assets After Challenging 2012
Following a tumultuous year that saw the ouster by shareholders of co-founder Laurence Orbach, Quarto reported 2012 results and reasserted their plans for the future, which include the possibility of selling off some of their hodgepodge of assets to help pay down their debt. (Borrowings include approximately $91 million in medium- and long-term loans). Sales fell $5.2 million to $180.9 million for the year. Profit before amortization and special items was $16.6 million, and after-tax profit of $5.5 million was down over 30 percent from $8.1 million a year ago. US trade sales of $59 million fell 12 percent, due […]
At Lagardere, Profits Rise Less Than Sales
In the European style, a month after reporting 2012 sales, Lagardere added a second report on their earnings. As noted previously, sales rose slightly at Lagardere Publishing to 2.077 billion euros (up 39 million euros), but EBIT nudged up less, gaining just 2 million euros at 223 million euros for the year. The company says that, “as expected, the second half of the year was marked by a substantial rise in profitability, enabling to maintain a high operating margin level of 10.7 percent throughout 2012.” Profits were “significantly higher” in the UK “thanks to commercial successes, the dramatic growth of […]
Results Rise at Wiley, But Restructuring Will Cut Jobs, With $25 Million Charge This Quarter
Third quarter sales at Wiley rose 5 percent to $472 million, as operating income of $83.6 million rose 7 percent and adjusted net income of $55.9 million (or 93 cents a share) was up 4.3 percent. (Adjusted results reflect the trade publishing properties sold to Google and Houghton Mifflin Harcourt, which comprised $12 million of sales in the quarter.) That performance beat analysts’ expectations of $456 million in sales of 83 cents per share of profits. At the same time, Wiley advised that they expect to take a $25 million restructuring charge in the current quarter, and “at least one […]
Harlequin Finishes Year with Weak Quarter
Harlequin’s parent company Torstar reported fourth quarter and full year results Wednesday. For the quarter, the book publishing unit had sales of $105 million (CA), down by $13 million, while EBITDA dropped $4.5 million to $16.8 million, which Torstar attributed to a decrease in North American and overseas revenues where digital growth could not compensate. Digital sales comprised for 21.4 percent of worldwide revenue in the fourth quarter, and 20.7 percent of revenues for the full year (compared to 15.5 percent of sales in 2011). Total sales for year were $426.5 million, down 7 percent from $459 million a year […]
Profits Fall at Penguin On Flat Sales, Rising Digital
Pearson reported full-year 2012 results in Monday morning in London, with Penguin’s adjusted operating profit falling by £13 million (12 percent on an actual basis, and 14 percent on a comparative underlying basis) to £98 million for the year. Actual operating profit was £32 million lower, however, due to “costs associated with the formation of Penguin Random House.” The company has included “a provision for the settlement of litigation” over agency ebook pricing within that £32 million charge, without breaking it out further, though Penguin ceo John Makinson told us “a fairly substantial amount” is set aside for settlement costs. […]