The Reader’s Digest Association posted a lower fiscal Q4 loss after restructuring its book division, and predicted it would break even or better in the current quarter.
In the quarter to June 30, the Digest’s cash-hemorrhaging US book division continued to drag gown the company’s results, while its magazine division has been hit by a weak advertising market.
Reader’s Digest, the group’s eponymous magazine, one of the world's most widely read publications, posted a loss of $3 million, or 3 cents a share, compared with a loss of $21.9 million (22 cents) year-on-year.
Revenue remained more or less static at $545 million, compared with $544 million a year earlier.
Data sourced from: New York Times; additional content by WARC staff