Reader's Digest Profits Down 36 Percent in Quarter

Manhattan: (AP)   Reader's Digest Association Inc. saw profits fall 36 percent in its fiscal first quarter despite continuing effort...


Manhattan: (AP)  Reader's Digest Association Inc. saw profits fall 36 percent in its fiscal first quarter despite continuing efforts by the publisher and direct marketer to improve its performance. The company's earnings, reported Tuesday, fell to $34.6 million, or 32 cents a share, for the period ended Sept. 30, from $53.9 million, or 50 cents a share, in the same period a year ago.

Revenue fell to $644.0 million from $730.5 million.

"We have been taking deliberate actions worldwide for the past year and a half to restore customer- and revenue-led growth, especially in our European operations, which account for a large proportion of our business,'' James P. Schadt, chairman and chief executive, said in a statement.

Those actions, he said, have resulted in lower revenue and profit in the short term but are in the long-term interests of the Pleasantville, N.Y.-based company.

Efforts underway include: reducing the quantity and frequency of promotional mailings; using sweepstakes promotions with lower prizes; lowering product prices; running a smaller organization to speed up business processes; investing to win new customers.

Revenue from Reader's Digest Magazine were down 1 percent from a year ago, books and home entertainment products brought 15 percent lower revenue and special interest magazine revenue declined 21 percent.

Reader's Digest Class A shares rose 25 cents on the news to $38.75 each on the New York Stock Exchange.

COMMENTS

Name

Anna univeristy transcripts,1,anna university,2,business,24,cyclone,1,education,2,health,23,NEWS,35,phethai,1,sci-tech,10,sports,25,technology,7,
ltr
item
Times Now India - Latest News Up to date - All India news updates portal - Top headlines: Reader's Digest Profits Down 36 Percent in Quarter
Reader's Digest Profits Down 36 Percent in Quarter
https://1.bp.blogspot.com/-4rg-In1qGHU/W_XTnL7eyxI/AAAAAAAAArk/NH1DKFi8vOMoMs6w2ngls_HQYBH7ZgS0wCLcBGAs/s1600/readersdigest415.jpg
https://1.bp.blogspot.com/-4rg-In1qGHU/W_XTnL7eyxI/AAAAAAAAArk/NH1DKFi8vOMoMs6w2ngls_HQYBH7ZgS0wCLcBGAs/s72-c/readersdigest415.jpg
Times Now India - Latest News Up to date - All India news updates portal - Top headlines
https://www.timesnowindia.com/2018/11/readers-digest-profits-down-36-percent.html
https://www.timesnowindia.com/
https://www.timesnowindia.com/
https://www.timesnowindia.com/2018/11/readers-digest-profits-down-36-percent.html
true
8987838410415587929
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy