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S&S On Pace for Record Profits
In her year-end letter to employees, Simon & Schuster CEO Carolyn Reidy said that the publisher is on track to “deliver record profits, a healthy gain in revenues, and our best-ever margins.”
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Good Enterprises Gets Extension, Finds Some Assets
The bankruptcy judge overseeing the Chapter 7 proceedings of Good Enterprises has granted the company an extension until January 13 to file various statements and schedules.
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Scholastic Sales Rise, Charges Curb Earnings
Revenue at Scholastic rose 1.5% in the second quarter ended November 30, to $623.2 million, and net income declined to $58.3 million from $61.8 million in the second quarter of fiscal 2013.
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Murray Says Digital, International Will Drive Growth
Speaking at an investor conference, HarperCollins CEO Brian Murray said growing digital and international sales will drive gains for publishers in the years ahead.
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Riggio Sells 2 Million B&N Shares
Barnes & Noble chairman Len Riggio sold 2 million of his shares in the bookstore chain on Tuesday for $13.81 a share.
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Good Books Parent Files for Chapter 7
Good Enterprises, whose holdings include the cookbook publisher Good Books, filed voluntary Chapter 7 bankruptcy December 10 and is preparing to liquidate the company.
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Wiley Posts $15 Million in Restructuring Charges
As it continues its transition from a traditional publisher to a provider of knowledge and knowledge-enabled services, John Wiley said it recorded a $15 million restructuring charge in the second quarter of fiscal 2014.
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Industry Stocks: November Performances
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Sales Dip, Losses Rise at Books-A-Million
Sales for the third quarter ended November 2 at Books-A-Million fell 3.5%, to $100.4 million, and its net loss deepened to $7.1 million, from $2.8 million in the third period of 2012.
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B&N Has Better Earnings Despite Sales Decline
Revenue fell in all three of Barnes & Noble’s operating groups for the second quarter ended October 26, 2013, but the retailer managed to post a 13.7% increase in EBITDA.
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Books Drop 11% at Hastings
Revenue at Hastings Entertainment fell 6.7% in the third quarter ended October 31, 2013, to $94.7 million, but its net loss was trimmed to $6.2 million from $8.0 million in last year’s third quarter.
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Fiscal 2013 Results Up at Courier
Led by a 6% increase in sales in its manufacturing segment, total revenue at Courier Corp. rose 5% for the fiscal year ended September 28, 2013, to $275 million, and net income increased to $11.2 million from $9.2 million in fiscal 2012.
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Trade Sales Down Through August
Sales for the first eight months of 2013 fell 1.1% in adult trade, 15.8% in children’s/young adult, and 3.2% in religion, according to the newest figures from AAP’s StatShot statistics program.
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HBG Bright Spot for Lagardere
Total third quarter sales at Lagardere Publishing fell 7.3%, to 580 million euros, but sales at its American subsidiary, Hachette Book Group, rose 11%.
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Earnings Rise 8% at HC Despite Sales Drop
HarperCollins reported a decline in quarterly revenue with total sales down 7%, to $328 million, for the first period ended September 30, 2013. EBITDA, however, rose 8%, to $43 million.
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Cambridge University Press Reports Solid FY 2013 Results
Cambridge University Press has released its annual report for fiscal 2013, reporting its 11th straight year of sales growth, with digital development leading the way.
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Sales, Earnings Drop at Harlequin in Third Quarter
Third quarter revenue at Harlequin fell 7.1%, to C$107.8 million, and operating earnings declined to C$14.1 million from C$18.8 million in the comparable period in 2012.
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Perseus Posts 'Strong' Fiscal 2013 Results
The Perseus Books Group had “strong” financial results for the fiscal year ended June 30, 2013, results which “surpassed our budgeted goals,” company CEO David Steinberger wrote to Perseus' 675 employees.
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Industry Stocks: October Performances
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HMH to Raise $292 Million in IPO
Houghton Mifflin Harcourt announced this morning that it is moving forward with an Initial Public Offering through which it could raise up to $292 million.
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