February 02, 2000
Readers' Digest Magazine Struggling
Readers' Digest Association Inc., Pleasantville, NY, which reported good news overall in its second-quarter results late last month, struggled with its core magazine business. Magazine revenue increases in the United States and internationally were offset by lower subscription and advertising revenues from Readers' Digest magazine, due to planned reductions in circulation and the sale of American Health magazine.
However, its non-magazine business fared much better; and the company announced a 61 percent earnings increase to $.90 per share for the fiscal 2000 second quarter.