Pearson issue a third-quarter overview, reiterating guidance for the full year that anticipates lower profits than in 2012. While sales are up compared to a year, the third quarter was soft (sales were up 7 percent at the end of June; now “continuing sales” are up 4 percent for the first nine months). North American education margins are lower due to “a weak trading environment for college textbook publishing,” as well as “start-up costs associated with new services contracts and by product investment ahead of the implementation of new Common Core standards.” The Penguin Random House merger also “reduces Pearson’s […]
International News
New $119 Nook Glowlight Arrives A Day Early; Kobo Expands In Ireland
Rumor had it that Barnes & Noble would announce the latest incarnation of its Nook GlowLight on Halloween, but the company did so on Wednesday morning. The newest version of the frontlit e-reader, retailing at $119 and shipping immediately, weighs just 6.2 ounces — “the lightest ever, but [also] 15 percent lighter than the Kindle Paperwhite” according to the announcement — and has its “highest resolution E-Ink display” with 62 percent more pixels. Full-page flashing on page turns is said to have been eliminated from the new GlowLight, which features “next-generation lighting technology that is completely uniform across the display […]
Corporate: Apple, AudioNoGo, and Lagardere
Apple reported fiscal fourth quarter results for the period ending September 28 after the close of the market on Monday. The company sold 14.1 million iPads in the period, just barely ahead of sales in the same quarter a year ago, with strong iPhone sales of almost 34 million units. They have sold approximately 172 million iPads since the launch of the line in 2010. Sales rose to $37.5 billion, as net profit fell $700 million to $7.5 billion. Lagardere has concluded a long-running dispute with Vivendi over the valuation of their stake in Canal+ France. In a compromise, Lagardere will […]
Hosseini and Acquisitions Help Bloomsbury to Increased Sales
Bloomsbury reported preliminary results for the first half of 2013, with sales up 13 percent to £49.2 million and pre-tax profit up £200,000, to a still-modest £1.1 million. Sales were driven by trade hits such as Khaled Hosseini’s And the Mountains Echoed (in the UK) and the company’s string of academic and professional publishing acquisitions. They are also the UK publisher for Jumpha Lahiri, Margaret Atwood and Colum McCann. The adult trade division had sales of £23.2 million (up 16 percent), as adjusted operating profit of £1.1 million rose 77 percent compared to a year ago. Adult digital sales were […]
People, Etc.
Associate publisher of Thomas Dunne Books Pete Wolverton has taken on the the additional title of editor-in-chief. St. Martin’s publisher at large Dan Weiss is resigning on October 30 after 4 years with the company. He can be reached at dweissco@gmail.com. Weiss will focus on consulting, strategic investment and philanthropy. Also at St. Martin’s, marketing manager Eileen Rothschild has been promoted to associate editor. She will also be the content coordinator for SMP’s e-originals. David Adams has joined Open Road Media as an associate acquisitions editor. Previously he was a literary scout with Sanford J. Greenburger Associates, and before then an […]
The Mysteries of Morrissey
After one of the strangest paths to publication we’ve seen, British musician Morrissey’s memoir AUTOBIOGRAPHY sold 20,000 trade paperback units in its first day on sale, Penguin UK reported. A spokesman for Waterstones Jon Howells explained to the AP, “In Britain, he is one of our icons. His is the great untold story from the ’80s generation of music heroes.” The author launched the book at a signing…in Sweden. Reviews in the UK newspapers have ranged from high to low. For a quick overview, the Daily Beast has already culled the “juiciest bits.” Though rights had not been sold previously […]