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Barnes & Noble: A Tale of Two Companies
The release of its third-quarter results for fiscal 2014 and the subsequent conference call with analysts on February 26 made it clearer than ever that Barnes & Noble executives are operating two companies with very different issues.
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Pearson Earned 78 Million Pounds from PRH
Pearson reported a contribution to earnings of 78 million pounds from Penguin and Penguin Random House in 2013.
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Quarto Reports $176M in 2013 Revenues
U.K. illustrated book publisher the Quarto Group reported revenue of $176.3 million for 2013, a slight decline from the $180.9 million reported in 2012.
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Barnes & Noble Q3 Revenues Decline 10.3%
Barnes & Noble reports that consolidated revenue for the third quarter of fiscal 2014 decreased 10.3% to $2 billion from the same period in the previous fiscal year. Third quarter EBITDA increased from $59 million a year ago to $173 million.
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Sales Up at Chegg, Loss Increases
Chegg reported revenue in 2013 rose 19.8%, to $255.6 million, but the company’s net loss increased to $55.8 million from $49.0 million in 2012.
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Profits Rose 32% in 2013 at S&S
Operating income at Simon & Schuster rose 32% in 2013, to $106 million on a sales increase of 2.4%, to $809 million, parent company CBS reported.
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2013 Sales at HBG Rose 6%
Driven by a solid fourth quarter and good sales for the year in the U.S., Lagardere reported sales of 2.07 billion euros in its publishing division for 2013, down from 2.08 billion in 2012.
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Market Watch: Week of February 10, 2014
Just as the Dow Jones Industrial Average pulled back in January following large gains in 2013, the Publishers Weekly Stock Index also got off to a slow start in 2014.
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Harper Earnings Jumped 33% in Quarter
EBITDA (earnings before interest, taxes, depreciation and amortization) rose 33% in HarperCollins’ second quarter ended December 31, 2013, to $68 million. Sales rose a more modest 4%.
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Rowman & Littlefield Has Record Year
Sales at academic and professional publisher Rowman & Littlefield rose 8% in 2013, to $51 million.
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Cengage Reaches Restructuring Deal
Cengage Learning, Inc. announced Monday morning that it has reached an agreement with its major financial stakeholders and creditors that will allow it to emerge from Chapter 11.
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MacAdam/Cage Files Chapter 7
After years of financial problems, independent publishing house MacAdam/Cage filed for Chapter 7 liquidation last month in a San Francisco court.
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Amazon Posts A (Small) Profit
Total sales in Amazon’s fourth quarter in 2013 rose 20% over the last quarter of 2012, hitting $25.59 billion, while net income rose to $239 million from $97 million in last year’s final period.
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Courier Results Up in Fiscal First Quarter
First quarter sales for the period ended December 28 at Courier Corp. rose 12%, to $72.8 million, and net income was up 9%.
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S&S Gets Court Okay to Sell Good Books Titles
The court overseeing the Chapter 7 liquidation of Good Enterprises has approved a motion allowing Simon & Schuster to continue distributing the Good Books titles.
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EDC Has Strong Third Quarter
Educational Development Corp. that third quarter sales rose 8%, to $8.5 million, in the quarter ended November 30. Net earnings were up to $547,800 from $525,700.
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Quercus Will Have Big Loss
U.K-based Quercus Publishing reported this morning that a disappointing fourth quarter would result in a “significant” loss for the year.
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Oyster Raises $14 Million More
Oyster, the recently launched e-book subscription service, has raised $14 million in its latest funding round. The new funding was led by Highland Capital Partners and includes participation from the existing Founders Fund which was led by Peter Thiel.
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Sourcebooks Sales Rose 22% in 2013
In an infographic sent out Monday afternoon, Sourcebooks says total revenue in 2013 increased 22%.
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Trade Sales Slipped Through October
Through the first 10 months of 2013 sales of adult trade books fell 0.6% and sales of children’s/young adult dropped 9.7%, according to AAP’s monthly StatShot figures for October.
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