Publishers

CBS reported fourth quarter earnings after the close of the market on Thursday, with Simon & Schuster recording a 6 percent decrease in sales, down $14 million to $215 million. Consistent with their recent pattern, however, profits rose even with lower sales. Adjusted OIBDA gained $3 million (or 11 percent) to $31 million, and adjusted operating income rose $2 million, at $27 million. S&S took a $3 million restructuring charge this quarter related to their realignment into new “publishing groups” and the elimination of some positions. (This time a year ago they took a $2 million charge.) As usual, CBS […]

McGraw Hill reported results for the fourth quarter and full year Tuesday morning, providing further details on the sale of its education division to Apollo Global Management (which the company expects to close by the end of the first quarter of 2013.) Now counted one the side as “discontinued operations,” the Education division recorded a net loss of $406 million for the quarter and $239 million for the year. Adjusted net income from discontinued operations for the fourth quarter and full year were $9 million and $196 million, respectively. The losses were driven by a big writedown against the K-12 […]

Lagardere reported fourth quarter and full-year sales (but in the European tradition, will not add complete performance information, including profits, until next month). The publishing division registered fourth quarter sales of 546 million euros, up 1.4 percent overall versus 537 million euros a year ago (and 556 million euros two years ago), but down 0.8 percent on a like-for-like basis. For the year, publishing sales of 2.077 billion euros were up 1.9 percent(but down 1.2 percent on a like-for-like basis, chalked up to foreign exchange issues.) Sales at Hachette Book Group USA fell 5.7 percent in the fourth quarter, compared to a 12.8 […]

News Corp. reported second quarter earnings after the close of the market Wednesday and the company has resumed disclosing nothing in particular about HarperCollins. The publisher said in a brief statement they “had a favorable second quarter.” (The previous quarter was called “solid”; a year ago, the second quarter was judged “challenging.”) In Wednesday’s investor call, president and coo Chase Carey actually mentioned the book publisher, saying HarperCollins “made progress this year.” eBook sales worldwide comprised 14 percent of sales–down slightly from 15 percent in the previous quarter. In a separate memo Harper UK, which always accentuates the positive, said […]

Courier Corporation announced an improved first fiscal quarter: For the period ending December 29, sales rose 3 percent to $64.8 million and profits of $2.4 million were up considerably from $1.5 million a year ago. Digital printing sales rose “on continued growth of customized versions of college textbooks as well as increased use of digital printing among specialty trade publishers.” Their publishing division continues to suffer, as sales fell 3 percent to $9.1 million. The unit’s operating loss was $1.1 million, an improvement only by comparison to the loss of $1.3 million a year ago. The company expects sales to […]