Quad/Graphics posted a net loss of $12.4 million in the first quarter of 2020, the Wisconsin-based commercial printer reported on Wednesday, a significant improvement over its $22.8 million net loss in Q1 of 2019. Net sales dropped 14.4% year-over-year to $823 million, the company said, a decline that was partially mitigated by a 13.5% reduction in operating expenses, which it executed by furloughing staffers (while preserving their medical benefits), reducing capital expenditures by 45%, suspending quarterly dividends and reducing the salaries of over 750 of its highest-paid employees. "Our first quarter performance exceeded our expectations until mid-March when we started to feel the initial disruption from COVID-19," said chairman, president and CEO Joel Quadracci, who added that he's taken a temporary 50% pay cut. "We were able to deliver strong first quarter results, in part, by taking early and swift action to align our cost structure to lower volumes in certain product categories, thereby protecting our balance sheet and preserving cash flow and liquidity. We have historically treated almost all costs as variable, and demonstrated our agility to react in real-time during the pandemic to reduce costs." Quad/Graphics withdrew its full-year 2020 financial guidance in early April, citing uncertainty in customer demand as a result of the pandemic. Magazines, catalogs and special interest publications combined to form about 30% of the company's overall net sales in... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-05-06 18:09:12 UTC ]
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Elsevier increased sales and profit in 2011 as the company said the decline in print sales was... Continue reading at The Bookseller
[ The Bookseller | 2012-02-16 00:00:00 UTC ]
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The Hollywood Reporter and Billboard magazines, two Prometheus Global Media titles, signed on for content distribution through the Associated Press today. The content will be made available on the AP beginning this month. Continue reading at Folio Magazine
[ Folio Magazine | 2012-02-16 00:00:00 UTC ]
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Printed book sales slipped 3% week on week last week, and were down 16% year on year as the... Continue reading at The Bookseller
[ The Bookseller | 2012-02-14 00:00:00 UTC ]
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Channel 4 has appointed Matt Salmon, group commercial director at Hearst Magazines UK, as head of agency sales. Continue reading at Media Week
[ Media Week | 2012-02-13 00:00:00 UTC ]
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The Works is heralding a revived "commitment to books" after appointing a new c.e.o.... Continue reading at The Bookseller
[ The Bookseller | 2012-02-10 00:00:00 UTC ]
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Random House parent company Bertelsmann has reported slight revenue growth for the 2011 fiscal... Continue reading at The Bookseller
[ The Bookseller | 2012-02-09 00:00:00 UTC ]
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Nearly a quarter of all books sold on Hive since October have been digital, Gardners has revealed... Continue reading at The Bookseller
[ The Bookseller | 2012-02-09 00:00:00 UTC ]
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Hachette parent company Lagardere has reported a 5.9% fall for net sales in its Publishing... Continue reading at The Bookseller
[ The Bookseller | 2012-02-07 00:00:00 UTC ]
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UK retail sales returned to negative like-for-like growth last month, in what was described as... Continue reading at The Bookseller
[ The Bookseller | 2012-02-07 00:00:00 UTC ]
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Bounce Sales & Marketing is expanding its sales team to offer special services to larger... Continue reading at The Bookseller
[ The Bookseller | 2012-02-06 00:00:00 UTC ]
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In what looks to be the graphic publishing literary event of the year, Seven Stories Press will publish the first volume of the Graphic Canon: Gilgamesh to Shakespeare to Dangerous Liaisons in April, the first of a three-volume anthology of graphic interpretations of the world’s literary... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-02-03 00:00:00 UTC ]
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Print sales are in retreat in almost all markets across the world tracked by Nielsen BookScan,... Continue reading at The Bookseller
[ The Bookseller | 2012-02-02 00:00:00 UTC ]
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Amazon.co.uk increased Kindle ebook sales by five times in its fourth quarter but its parent... Continue reading at The Bookseller
[ The Bookseller | 2012-02-01 00:00:00 UTC ]
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McGraw-Hill is exploring a possible sale of its $2.5bn-plus education business, according to a... Continue reading at The Bookseller
[ The Bookseller | 2012-02-01 00:00:00 UTC ]
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Waterstones in Ireland made a loss after tax of €12.9m up to April last year, as sales... Continue reading at The Bookseller
[ The Bookseller | 2012-01-31 00:00:00 UTC ]
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Gareth Brookes' The Black Project has won Myriad Editions' first competition for a... Continue reading at The Bookseller
[ The Bookseller | 2012-01-24 00:00:00 UTC ]
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Publishers have reported ebook sales surging by up to 355% post-Christmas, as Nielsen BookScan... Continue reading at The Bookseller
[ The Bookseller | 2012-01-23 00:00:00 UTC ]
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The actress Jennifer Lawrence in a scene from the movie adaptation of "The Hunger Games." Continue reading at The New York Times
[ The New York Times | 2012-01-23 00:00:00 UTC ]
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Digital services and expansion into emerging economies are leading Pearson’s economic... Continue reading at The Bookseller
[ The Bookseller | 2012-01-19 00:00:00 UTC ]
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