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Quarto Results Rise; Buys Frances Lincoln Ltd.
The U.K-based Quarto Group reported gains in sales and earnings for the first six months of 2011 and also announced that it has acquired the U.K. publisher Frances Lincoln Ltd.
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HarperCollins Sales Fell in Fiscal 2011
Sales at HarperCollins fell in the fiscal year ended June. Parent company News Corp. said in its 10-k filing that HC had “lower book sales due to fewer new releases and lower licensing fees resulting from a settlement received at HarperCollins in fiscal 2010.”
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Tracking the Transition: Bookstats
Last Tuesday's release by the Association of American Publishers and Book Industry Study Group of BookStats provides the most comprehensive information yet to gauge how technology is changing the sales patterns and trends of the book publishing industry.
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The Top Pay Grade
Executives in different parts of the publishing business did fairly well in 2010, according to PW's annual look at salaries.
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HarperCollins Year-End Results In
HarperCollins didn’t merit a word in parent company News Corp.’s announcement concerning year end results with the $33 billion company focused on explaining that the hacking scandal has not had an impact on its operations.
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Industry Sales Rose 3.1% in 2010; Trade E-book Sales the Big Winner
Total book publishing revenue rose 3.1% in 2010, to $27.9 billion, and posted two-year growth of 5.6%, according to figures released Tuesday by BookStats.
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Industry Stocks: July Performances
Despite losers outnumbering winners by eight to six, the Publishers Weekly Stock Index rose 3.5% in July, easily beating the Dow Jones Industrial Average, which fell 2.2% in the month.
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Scholastic Settles Down In Fiscal 2011
After selling or closing a number of businesses in the previous three years, fiscal 2011, ended May 31, was relatively quiet for Scholastic with no significant changes to its portfolio. The biggest deal in the year was the $24.3 million the company paid to acquire the land under its New York City headquarters, according to the publisher's recently released 10-k filing (it also paid $8.2 million to buy Math Solutions). The just concluded fiscal year also saw Scholastic post its second consecutive year of net income after reporting net losses in fiscal 2009 and 2008.
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Earnings Up, Sales Slip at Simon & Schuster
Adjusted operating profit at Simon & Schuster rose 13% in the second quarter ended June 30, to $17 million, despite a 3% decline in sales, which fell to $183 million.
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Earnings Up at Educational Development Corp.
Educational Development Corp. reported that earnings for the first quarter of fiscal 2012 ended May 31 rose to $300,200 from $188,200 in the comparable period in fiscal 2011.
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Greenleaf Book Group Gets New Investor
Austin-based Greenleaf Book Group has received a new investment from the private equity firm Noson Lawen Partners.
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Second-Quarter Scorecard (in millions)
Retail print book sales fell C$10.8 million in the quarter, offsetting a C$7.3 million increase in e-book sales. In addition to lower sales, profits were hurt by higher returns, due in part to the bankruptcy of Borders. E-book sales accounted for 15% of revenue in the quarter, up from 7% in last year's second period. Harlequin expects profit to improve in the second half as return rates fall.
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Second Quarter Results Down at McGraw-Hill Education
Sales and earnings both fell at McGraw-Hill Education in the second period ended June 30 with revenue down 5%, to $536.6 million, and operating profits off 18.3%, to $42.2 million.
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Amazon Sales Soar, But Earnings Fall
Led by sales in its electronics and general merchandise segment (home to Kindle), total revenue at Amazon jumped 51% in the second quarter ended June 30, to $9.91 billion, though increased investments lowered net income to $191 million from $207 million in last year’s second quarter.
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Hurt by Borders, Courier Has Weak Third Quarter
Borders's bankruptcy and soft demand for el-hi textbooks combined to drop revenue by 5% at Courier Corp. in the third quarter ended June 25, to $61.9 million.
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Scholastic Announces Fiscal 2011 Results
Scholastic today reported fourth quarter earnings of $545.8 million, up 1% from 2010, and overall annual revenue for the fiscal year, which ended May 31, of $1.91 billion, roughly level with last year.
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Is Follett in Play?
According to a report in the financial news service dealReporter, Follett Corp. has hired Credit Suisse to advise the college textbook wholesaler and bookstore operator to explore the possibility of selling the company or some of its divisions.
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Print Units Drop 10% In First Half of 2011
Unit sales of print books sold through outlets measured by Nielsen BookScan fell 10.2%, to 307.1 million, in the first six months of 2011 ended July 3. The decline comes as no surprise as e-book sales continued to eat into sales of physical books, and the weak economy limited consumer purchases of discretionary items.
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Print Units Fall 10% in Six Months, According to Nielsen BookScan
Total unit sales of print books sold through the outlets whose sales are captured by Nielsen BookScan dropped 10.2% in the six month period ended July 3, falling to 307.1 million.
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Industry Stocks Up for Six Months
The Publishers Weekly Stock Index rose 9.5% in the first six months of 2011, beating the 7.3% increase posted by the Dow Jones Industrial Average.
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