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Quarto Bottomline Improves Despite Sales Dip
In a year in which it replaced both its chairman and CEO and sold or closed a number of divisions, the Quarto Group reported that revenue in 2018 fell 2% from 2017. The company’s bottomline improved as adjusted profit rose to $10.3 million from $7.2 million a year ago.
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B&N Q3 Sales Flat, Comps Rise 1.1%
Total revenue at B&N in the third quarter ended January 26, 2019 was flat at $1.23 billion as retail sales rose 0.3% and Nook revenue fell 21%. Comparable sales were up 1.1%, but earnings fell slightly.
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Traditional Book Business Drags Down Wiley in Q3
In the Wiley publishing segment, the company reported that educational publishing revenue dropped 23% compared to last year’s third quarter, while STM and professional publishing revenue fell 20%. Overall sales for the company dropped 1%.
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B&NE Q3 Sales Fell 8.8%
The faster than expected move from physical textbooks to digital offerings was the key factor in a 8.8% revenue decline at Barnes & Noble Education for the quarter ended January 29.
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Industry Stocks: February Performances
With the stock prices of nine of the 11 companies on the Publishers Weekly Stock Index rising in February, the PWSI managed to eke out a 0.9% increase.
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Sales Rose 10.6% in 2018 at HMH Trade
The 2018 sales increase in the Houghton Mifflin Harcourt trade group was led by higher licensing income. Meanwhile, the net loss for the entire company, which includes the education division, was cut to $90.5 million from $135.1 million in 2017.
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PRH Had Solid 2018, Pearson Said
Pearson, which owns a 25% stake in Penguin Random House, said the global trade publisher had a solid 2018 led by increased audiobook sales and stable print sales.
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LSC Has Gain in Book Group
Sales in LSC Communications' book division rose 3.2% in 2018 over 2017, to $1.06 billion.
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Earnings Dropped at Quad in 2018 Despite Small Sales Gain
A week after it changed its name to Quad from Quad/Graphics, the company reported that 2018 sales increased 1.5% over 2017. Net earnings, however, tumbled to $7.9 million.
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S&S 2018 Profits Up, Despite Small Sales Decline
A 7% decline in fourth quarter revenue led to a 0.6% drop in sales for the full year at Simon & Schuster. The publisher still posted a 6% increase in operating profits over 2017.
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Trade Segment Was Industry Bright Spot in 2018
Gains in the trade and religion segments were offset by declines in the other publishing categories, leading to a small (0.4%) decline in industry sales in 2018, according to the Association of American Publishers’ StatShot program.
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HC Sales, Earnings Up in Q2
Strong sales of digital audio were a key contributor to a 13% increase in profits at HarperCollins in the second quarter ended December 31, 2018. In discussing second quarter results, Robert Thomson, CEO of HC parent company News Corp, criticized Audible's domination of the downloadable audio market.
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2018 Sales Fell 1.6% at Lagardère
Within the U.S., HBG CEO Michael Pietsch credited a 6.3% growth in the fourth quarter with helping the company to "another solid year of revenue growth."
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Amazon's 2018 Sales Topped $232 Billion
The giant company's sales increased 31% in 2018 over 2017, and its operating income tripled to $12.4 billion. Among the many reasons cited for the big 2018 financial gains was the performance of Amazon’s third-party sellers.
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Industry Sales Flat Through November
According to the Association of American Publishers’ StatShot program, sales from 1,374 reporting publishers were up 0.3% through November over the comparable period in 2017.
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New Guild Report Finds More Declines in Author Earnings
An Authors Guild survey of more than 5,000 authors found they had a median income $6,080 in 2017. Excluding income from book-related activities such as speaking engagements, earnings from just books was $3,100.
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Industry Stocks Took a Big Hit in 2018
Last year was a bad one for stocks...and it was particularly tough for the 11 companies that make up the Publishers Weekly Stock Index.
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Print Unit Sales Increased 1.3% in 2018
Unit sales of print books rose 1.3% in 2018 over 2017 at outlets that report to NPD BookScan. According to BookScan, units topped 695 million in the 52-week period ended December 29.
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Scholastic Trade Sales Rose 16% in Q2
Revenue in Scholastic's trade division increased 16% in the second quarter ended November 30, 2018, over the comparable period a year ago. For the entire company, revenue in the quarter rose 1% over last fiscal year’s second quarter and net income jumped 25.4%.
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Donadio & Olson Files for Bankruptcy
After the theft of $3.4 million by its former bookkeeper, the agency has shuttered and started liquidation proceedings. In a letter, agency principal Neil Olson apologized to his clients and said he had "simply run out of time and resources.”
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