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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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Industry Stocks Soared in 2013
Aided by one of the biggest bull rallies in years, the core Publishers Weekly Stock Index soared 51.2% in 2013, almost double that of the gain posted by the entire Dow Jones Industrial Average.
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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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