Stamford, Conn.

Print isn't exactly dead in the textbook industry, but it's not the revenue engine it used to be for Boston-based education content company Cengage Learning.

The company - which last year announced it made its Boston office its headquarters from Stamford, Conn. after emerging from bankruptcy last year - has been transforming itself over the past couple of years from a textbook publisher to a product-focused company with a tech concentration.

Leading that tech transformation is George Moore, the company's chief technology officer, who previously worked at medical publishing company Elsevier Health Science in Philadelphia

It's well-known that reference books generally have been suffering lately, another facet of the industry that has been affected by the Internet and consumers' easy access to free information. "For 2009, revenue-wise, … we estimated reference book sales would fall much [more] than that of the other categories we expected to do poorly this year …," says Michael Norris, senior analyst at Simba Information, a market research and consulting firm in Stamford, Conn. "The simple reason is that consumers have a different relationship with reference-book content than they do with, say, a great work of fiction or an engaging biography. They mostly just need a snippet of information here and there, and being that the Web houses a lot of what a consumer thinks he or she needs, few are bothering to buy traditional reference books."

If the Internet has taught traditional media anything, it’s that valuable content should be protected or it will quickly lose its worth. Letting music, news articles or whatever fall into the hands of those who do not value it has been toppling old media companies left and right, and is likely to continue. Take newspapers: Had their stories not been copied, pasted, snarked upon and uprooted far from their original sources (and the advertisers), there wouldn’t be nearly as many journalists in the unemployment line today.

Who hasn’t tried the excuse, “My dog ate my homework,” on a teacher? Success with that excuse now is nearly impossible, according to experts in educational book publishing. So much of what teachers currently do involves digital materials and tools that, short of a network failure or computer glitch, a student would be hard-pressed to come up with a similar excuse.

Maybe divine intervention will reverse the profit slide for religious book publishers. But industry experts believe it also would be prudent to consider scaling back on titles, reducing returns, making intelligent use of data, investing in digital opportunities and otherwise adapting business models for future success.

A “slow, but steady decline” is how Rhonda Herman, executive vice president at reference publisher McFarland & Co. Inc., characterizes the market for reference books. “We are cautious about sales and will feel lucky if sales remain flat.” The reality of an economic downturn is starting to sink in—McFarland’s volume is flat, Herman says, “but actual income is down 2 percent. The reason for this is that we are experiencing higher than normal overstock returns, which is not surprising in this market.” Both direct and indirect costs are hitting the bottom line at the Jefferson, N.C.-based publisher. Higher fuel costs are forcing up the