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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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Chegg Looks to Raise $172.5 Million
Chegg, which offers textbooks for rent and other online services to college students, is looking to raise $172.5 million in its Initial Public Offering.
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Amazon Has Big Sales Gain, Small Loss
Total revenue at Amazon increased 24%, to $17.09 billion, in the third quarter of 2013 while its operating loss was $25 million, down from $28 million in the third quarter of 2012.
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Six-Month Results Up at Bloomsbury
With sales up in all its major segments, total revenue rose 13% for the first half of 2013, to 49.2 million pounds, at Bloomsbury Publishing.
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Sales Up, Earnings Down at EDC in Second Quarter
Educational Development Corp. reported that revenue for the second quarter ended August 31, 2013 rose 4.6%, to $5.7 million, but net earnings in the period fell to $56,400 from $138,200 in the second quarter of fiscal 2013.
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Industry Stocks: September Performances
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