Reader's Digest Segment Profit Rises for Quarter

Share this content:
The Reader's Digest Association Inc., Pleasantville, NY, said yesterday that segment operating profits for the quarter ended June 30 totaled $33 million, up from the comparable prior-year's $6 million.


Also, the company reported fiscal 2002 fourth-quarter operating profit of $7 million compared with an operating loss of $20 million in the comparable fiscal 2001 quarter.


Full-year fiscal 2002 operating profit was $89 million, a 22 percent drop from $114 million in fiscal 2001. Adjusting for foreign currency translation, operating profit fell 15 percent.


Full-year fiscal 2002 revenue reached $1.07 billion, down 4 percent from fiscal 2001, or down 2 percent adjusting for foreign currency translation.


For the fourth quarter of fiscal 2002, the U.S. Magazines segment posted operating profit of $5 million, an increase of $13 million from fiscal 2001. Revenue totaled $134 million, up 12 percent from $120 million in fiscal 2001. Excluding Reiman Publications, revenue was $103 million in the fiscal 2002 quarter, down as a result of lower advertising and circulation revenue and the absence of Walking and New Choices magazines, which were closed during fiscal 2002. Full-year fiscal 2002 operating profit rose 5 percent to $81 million, primarily due to improved profit at Reader's Digest magazine. Revenue for U.S. Magazines fell 4 percent in fiscal 2002 to $627 million, including $31 million of revenue from Reiman. Excluding Reiman, revenue fell 9 percent.


U.S. Magazines, International Businesses and North America Books and Home Entertainment are the company's three operating segments.


close

Next Article in Multichannel Marketing

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