Canada’s Torstar reported fourth-quarter and fiscal year results Wednesday, and the performance of Harlequin fits the general pattern of other publicly-reported trade publishers: sales were down a little, and operating earnings rose. This is what the digital transition looks like. For the full year, digital comprised 15.5 of revenues of $459 million CA (down 2 percent from $468 million the previous year). In the fourth quarter alone, digital accounted for 17.7 percent of worldwide sales of $118 million, down $2 million. Digital sales added $7 million in the fourth quarter compared to a year ago, while retail print sales declined […]
Publishers
Per the Trend, Penguin Sales Are Roughly Flat As Profits Rise
Pearson reported full-year results Monday, in line with the “trading preview” offered in January, and Penguin’s results were consistent with the recent trendline for successful trade houses: Sales of 1.045 billion pounds were up slightly on an adjusted basis (and down slightly, by 8 million pounds, on a topline basis, due to very modest strengthening in the pound versus the dollar), while margins rose to another new record: 111 million pounds, up 5 percent overall and 8 percent on an underlying basis. That leaves them with a margin for the year of a little under 11 percent, similar to that just reported […]
Corporate News: Quarto Finishes Up On Acquisitions; Colman Getty Acquired
Quarto reported preliminary earnings for the full fiscal year on Tuesday, with sales of $186.1 million up 5.5 percent, helped by “two small acquisitions” during the year, and pre-tax profit of $12.1 million was up 5.2 percent. Digital sales grew fivefold, but still comprise only $2.1 million of sales, or about 1 percent of sales, noted in the release “to satisfy the curiosity of analysts and commentators.” Often mentioned as a potential acquirer of other houses, including the current Sterling Publishing offer, Quarto’s net debt also rose–up 14 percent, to $81.4 million, including the cost of acquiring Cool Springs Press […]
S&S Registers Eighth Consecutive Profit Increase Even As Sales Wane
CBS reported fourth quarter earnings after the close of the market on Tuesday, with Simon & Schuster recording a 1 percent decrease in sales, down $3 million to $229 million, accompanied by a sharp increase in profits. Adjusted OIBDA rose $8 million (or 40 percent) to $28 million, and adjusted operating income rose $9 million, at $27 million. That’s a 12 percent margin for the quarter, and the company recorded an 11 percent profit margin for the full fiscal year. S&S took a $2 million restructuring charge during the fourth quarter not charged against OIBDA, related to the realignments in […]
More Briefs: Profits Slide At Bertelsmann, Glad Day Bookshop Finds Buyers
Bertelsmann released preliminary, topline figures for 2011, with their full report due on March 28. Sales from continuing operations nudged up 1 percent, to €15.3 billion, while operating EBIT fell roughly 5 percent, to €1.7 billion. Positive indicators included “rapidly growing e-book sales.” Toronto’s LGBTQ Glad Day Bookshop has secured a future for itself, with news that a group of local supporters have joined together to buy the store. High school teacher Michael Erickson, who led the group of buyers, says that “as individuals, none of us are rich. But collectively, there will be over 20 of us in the […]
Harper Results Are Soft In the US, Strong In the UK, As eBooks Stay At 10% Worldwide
News Corp. reported second quarter sales after the close of the market Wednesday. As in the past, the performance of HarperCollins is too modest to merit any mention in the earnings release. In the publishing segment, focused on newspapers, sales fell 9 percent and operating income dropped by 43 percent, blamed on “lower advertising revenues at the Australian newspapers and the integrated marketing services business” as well as the closure of The News of the World. In a brief statement, Harper said their best-performing units were Harper UK (publisher there of George R.R. Martin’s Game of Thrones books) and Zondervan […]