Sunday, August 26, 2007

HarperCollins in Trouble?

Second quarter income drop for HarperCollins

HarperCollins saw a decrease in operating income for the second quarter, ending 31st December, parent company News Corp has announced. Operating income was 54m dollars for the second quarter, a 29.8% decrease from 77m dollars a year ago.


"The results were not unexpected," said HarperCollins c.e.o. Jane Friedman. "We knew it was going to be tough, but it was better than I anticipated. I feel we have had a very, very good quarter."The second quarter last year was the most successful quarter for C S Lewis' "The Chronicles of Narnia" series, which made 104m dollars, Friedman said.

It sounds as if Narnia sales temporarily (artificially, if you will) boosted profits for previous quarter(s), and this is a more appropriate level of operation. However, we're sure they have more companion products in store, and can count on heightened interest in the original series with Prince Caspian and Voyage of the Dawn Treader coming down the pike.

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