Reader's Digest Earnings Rise

Share this content:
Reader's Digest Association Inc. ended its 2004 fiscal fourth quarter and year with increased earnings compared with last year, the Pleasantville, NY, company said yesterday.

The company posted $12 million in net income for the fourth quarter ended June 30 and $67 million in the 2004 fiscal year. In fiscal 2003, the firm had a net loss of $13 million in the fourth quarter and net income of $61 million for the year.

However, revenue was down for the quarter and year. It totaled $536 million and $2.4 billion, respectively, versus $564 million and $2.5 billion in the previous year.

The Reader's Digest North America division generated fourth-quarter revenue of $203 million, down from $209 million in the prior year. Revenue for the fiscal year also dropped, to $835 million versus $854 million last year. But the division had increased operating profit for the quarter and year at $16 million and $71 million, respectively, versus $13 million and $61 million in 2003.

The International Business division produced lower revenue of $239 million for the quarter and $970 million for the year, compared with $252 million and $1 billion in the earlier quarter and year. However, its operating profit was up, reaching $21 million for the quarter and $57 million for the year compared with $15 million and $49 million in 2003.

Consumer Business Services posted a drop in 2004 revenue with $96 million for the quarter and $609 million for the year versus $110 million and $641 million for the prior year. The division posted a loss of $7 million for the fourth quarter compared with a loss of $1 million in the same quarter last year. It produced an operating profit of $64 million for fiscal 2004 compared with $91 million in fiscal 2003.


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above