The acquisition of Thomas Nelson and the formation of HarperCollins Christian as well as the growth in ebooks has helped drive revenue and profit at HarperCollins nearly to pre-recession levels.
In its full-year earnings report for fiscal 2013, News Corp reported that HarperCollins had $1.369 billion in revenue and earnings before interest, taxes, depreciation and amortization (EBITDA, a common measure of corporate profit) of $142 million. That’s up from $1.189 billion in sales and EBITDA of $86 million in fiscal 2012; and close to as much as the company made before the recession — in 2008, HarperCollins netted $1.388 billion in revenue and operating income of $160 million, according to Publishers Lunch.
Much of this year’s increase reportedly comes from the acquisition of Thomas Nelson, which was the largest Christian publisher in the U.S. prior to being absorbed by HarperCollins.
Ebooks are also a part of the HarperCollins growth story. Some 19% of its global revenues in the fourth quarter of 2013 were from ebook publishing, up from 16% during the same period a year ago. Further, the company has begun experimenting with producing ebook-only or ebook-first titles, which it says have been successful. From the earnings report:
HarperCollins is rapidly transitioning from print …read more
Via: Digital Book World