Avalon Publishing Posts Strong Gains

Strong first and fourth quarters offset a "tough spring and summer," resulting in a 10% sales increase at the Avalon Publishing Group in 2003, chairman Charlie Winton told PW. The company finished the year with net sales of nearly $30 million. Operating income rose more than 50% in the year.

The sales gain was led by Avalon's Marlowe & Company imprint where sales jumped by more than 100%. The New Glucose Revolution, with 200,000 copies sold, was the top seller at Marlowe, and all Glucose-related titles sold more than one million copies in the year. Publication of the first titles of Avalon's newest imprint, Shoemaker & Hoard, added to the sales increase. In addition, a turnaround in the Avalon Travel Publishing unit also contributed to the improved performance, Winton said. Travel sales, which began to pick up in the summer, rose about 5%, and the division swung back to profitability in the year.

Hot titles in December, which Winton said was "the best month in our history," included The Bush-Hater's Handbook, with 50,000 copies sold, and Keeping Faith, which sold more than 25,000 copies. A redesign of the Rick Steves travel guides contributed to improved sales in the travel series with 250,000 copies sold since the fall.

While Winton acknowledged that many of Avalon's titles have a "progressive bent," he said his goal is to create a diverse list that will provide the company with a strong backlist that will generate about 55% of annual sales. "It's the only way to survive," he said.

Winton said 2003 was an important transition year for Avalon, its second as a stand-alone company following the sale of Publishers Group West in January 2002. Winton said he believes Avalon "turned the corner" in the year in terms of establishing an infrastructure that will allow the publisher to improve sales and profits without significant new investment. The improvement in earnings in 2003, Winton said, is proof of the scalability of Avalon's business model.

Winton is looking for sales growth of 10% this year. Continued improvement in the travel segment, a full year of titles from Shoemaker & Hoard plus what looks like a bestseller in The Politics of Truth by Joe Wilson are among the reasons for Winton's optimism. An acquisition in the year is also possible.

Avalon Publishing Group Imprints