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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Written By: Charlotte Williams Publication Date: Fri, 06/05/2011 - 08:55 Random House has hit the landmark of two million ebooks sold in the UK, with other leading publishers reporting a first quarter explosion in digital sales. E-books currently account for 8% of RH's overall sales, with... Continue reading at The Bookseller
[ The Bookseller | 2011-05-06 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 06/05/2011 - 08:50 The headline decline in sales for British publishers last year of 3.2% is a "cause for concern but not alarm", outgoing Publishers Association president Victoria Barnsley has said in the PA Statistics Yearbook 2010. read... Continue reading at The Bookseller
[ The Bookseller | 2011-05-06 00:00:00 UTC ]
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News Corp. released its earnings report for the quarter that ended in March, and the results are a little disappointing. The company reported a decline in its operating income, which was down to about $1 billion, compared to $1.25 billion over the same period last year. The drop-off appears to... Continue reading at AdWeek
[ AdWeek | 2011-05-05 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Wed, 04/05/2011 - 16:00 Booksellers suffered their poorest sales in almost eight years last week with spending on physical books slumping by 12% week-on-week. read more Continue reading at The Bookseller
[ The Bookseller | 2011-05-04 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 04/05/2011 - 15:48 The owners of the Torbay Bookshop, the Paignton based independent bookseller, have put the shop up for sale after almost 20 years trading. Co-owner Matthew Clarke said it was the right time to sell the business, with he and... Continue reading at The Bookseller
[ The Bookseller | 2011-05-04 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Tue, 03/05/2011 - 09:22 The digital publishing market is now worth 6% of UK publishers' sales, the Publishers Association has revealed, with consumer digital sales up more than 300% in 2010 to £16mthe third year of treble digit growth. The PA... Continue reading at The Bookseller
[ The Bookseller | 2011-05-03 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Tue, 03/05/2011 - 11:42 E-book sales at Hachette UK quadrupled in the first quarter of 2011 and are more than 5% of HUKs trade sales, the company revealed today (3rd May), adding that it was beginning to catch up with the US, where ebooks now account... Continue reading at The Bookseller
[ The Bookseller | 2011-05-03 00:00:00 UTC ]
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Nielsen reported its first quarter results this morning and overall revenue was up 7 percent to $1.3 billion and adjusted EBITDA grew 8.5 percent to $320 million compared to Q1 2010. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-29 00:00:00 UTC ]
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Variety was one of just four magazines kept by Reed Elsevier after it sold off more than 60 different properties over the last three years. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-29 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 28/04/2011 - 08:00 A large proportion of iPad owners in the US have not used the device to read an ebook, a survey from media and publishing forecast firm Simba Information reveals. A report on the firm's "Trade E-Book Publishing 2011"... Continue reading at The Bookseller
[ The Bookseller | 2011-04-28 00:00:00 UTC ]
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Written By: Philip Jones and Jenny Roper Publication Date: Wed, 27/04/2011 - 16:00 Book sales dropped 9% last week as the Easter weekend cut into retail time, but the market was still up on the same week last year with sales up 2.1%, a second consecutive week of year-on-year growth after a... Continue reading at The Bookseller
[ The Bookseller | 2011-04-27 00:00:00 UTC ]
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McGraw-Hill says revenue grew 7.7 percent to $1. 3 billion while net income jumped 16.2 percent to $120 million in the first quarter of 2011. Revenue in McGraw-Hill's Information & Media segment rose 10.3 percent to $227.5 million while operating profit grew 34.5 percent to $37.4 million. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-26 00:00:00 UTC ]
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The appeal of paid content is growing. Last month, The New York Times embarked on one of the largest tests yet around paid content, introducing a subscription plan for the heaviest users of its site. The plan offers three digital subscription options across a variety of devices. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-21 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 21/04/2011 - 13:45 The Random House Group has made a series of appointments as part of a reshuffle of its international sales department, including the creation of a group sales and marketing director role for East Asia. Sales and marketing... Continue reading at The Bookseller
[ The Bookseller | 2011-04-21 00:00:00 UTC ]
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In a study based on data from comScore MobiLens service, results showed that there are 37.9 million Apple iOS users; a number 59 percent greater than Android users, who totaled 23.8 million. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-19 00:00:00 UTC ]
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#android users
Here's a clever idea from Chris Dixon: The investor and entrepreneur has turned his well-read blog into an ebook. Dixon, who runs Hunch and helps steer Founder Collective's bets when he's not blogging, has taken a couple years' worth of posts and compiled them into "Startups; Dixon's proceeds... Continue reading at AllThingsD
[ AllThingsD | 2011-04-19 00:00:00 UTC ]
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In a statement released yesterday, Demand Media reaffirms the financial outlook for fiscal year 2011 given on February 22, despite the Google algorithm change which took place in late February. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-19 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 19/04/2011 - 09:40 Tesco UK sales rose by 5.5% in a year where the company said book sales "grew well." The supermarket released its preliminary results for the 52 weeks to 26th February 2011 this morning (19th April), showing that UK sales grew... Continue reading at The Bookseller
[ The Bookseller | 2011-04-19 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Mon, 18/04/2011 - 09:20 Poetry publishers have united en masse to demand the Arts Council overturn its decision to stop funding the Poetry Book Society, saying the demise of the organisation would lead to a "considerable loss of sales". A total of... Continue reading at The Bookseller
[ The Bookseller | 2011-04-18 00:00:00 UTC ]
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#dan franklin
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Written By: Benedicte Page Publication Date: Mon, 18/04/2011 - 09:22 Amazon.co.uk has launched a two-week Kindle ebook promotion, with Michel Faber's The Crimson Petal and the White priced £1.47. According to information sent to publishers whose books will feature, the campaign will be a... Continue reading at The Bookseller
[ The Bookseller | 2011-04-15 00:00:00 UTC ]
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#amazon launches
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