TITLE

Random House Revenues Decline Despite Large Number Of Bestsellers

PUB. DATE
April 2004
SOURCE
Book Publishing Report;4/5/2004, Vol. 29 Issue 12, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Random House division of Germany based Bertelsmann AG posted disappointing 2003 financials, despite producing more bestsellers than any U.S.-based trade book publisher. New York-based Random House had sales of 1.78 billion in 2003, down from 2 billion in 2002. Operating earnings before interest, taxes and amortization of goodwill expenses was 147 million, compared to 168 million in 2002. All euro-to-dollar currency conversions are based on the rate of 1 equals $1.26, the rate on December 31, 2002. Bertelsmann claimed the decline in revenues and profits could be attributed to foreign currency effects, which result mainly from the conversion of the U.S. dollars to euros for the greater part of Random House's businesses, which is the U.S. based.
ACCESSION #
12722892

 

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