Led by a strong performance in its trade division, revenue at Scholastic rose 7% in the first quarter ended August 31, 2019, over the comparable period in fiscal 2019. The net loss was cut to $58.5 million, from $61.3 million in last year’s first quarter.
Unit sales rose 24% in the first six months of 2019 over the comparable period in 2018, while revenue increased 26% at Sourcebooks.
Driven by a number of acquisitions and hundreds of bestselling books, profits at Penguin Random House jumped 33.0% in the first half of 2019 over the comparable period in 2018 and revenue rose 11.3%.
In the first half of 2019 sales of adult books rose 1.4% over the comparable period in 2018, while sales of children/YA books increased 7.4%, according to the AAP. Sales of religious presses, which AAP puts in the trade segment, rose 11.4%.
Book sales rose by $400,000 in the second quarter of 2019 over the comparable period a year ago at Regnery Publishing, the publisher's parent company, Salem Media, reported. Sales for all of Salem's publishing division rose 3.7% in the period.
Higher sales of print books and digital audiobooks drove revenue and profit gains in the first quarter of 2019 at Simon & Schuster, and the same scenario played out for the second quarter, as sales rose to $218 million and profits reached $33 million in the period.