Sales for the third quarter at the publisher, ended September 30, fell 20.7% compared to last year’s third period. Salem Media Group’s publishing division is home to Regnery Press as well as the self-publishing units Xulon Press and Mill City Press (which also includes magazines).
Revenue in the quarter dropped to $6.5 million, from $8.2 million in the third quarter of 2016, while the operating loss increased from $18,000 to $546,000.
In its filing with the Securities and Exchange Commission, Salem said the decline at Regnery, which specializes in conservative books, was due in part to fewer releases compared to a year ago. This led to a 17% decline in unit sales, partially offset by a 4% increase in the average selling price.
In its self-publishing business, a $200,000 increase in book sales from Mill City Press was offset by a $200,000 decline at Xulon Press, which was partially due to Hurricane Irma. The storm lowered output because of power outages at its plant, Salem said. Self-publishing fees for the two units fell 33%, to $1.1 million in the quarter.
For the nine month period, publishing sales were down 4% in 2017 compared to 2016, to $19.0 million. The net loss rose to $1.1 million from $650,000.
