Cengage Hit By Big Fall In Income

Sunday 19th May

Cengage Hit By Big Fall In Income

Posted at 4:40PM Monday 12 Nov 2012

Cengage Learning, the Apax-owned educational publisher, rattled lenders on Friday with news of a 22 per cent fall in revenues and a 49 per cent drop in operating income for the first quarter of its financial year.

The results, described as "very disappointing" by Michael Hansen, Cengage's recently appointed chief executive, could complicate the group's efforts to refinance more than $2bn of loans coming due in 2014.

FT (registration required)

Comments [0]

Email Story

Report Bad Link

Share |

Get book trade news by email

Daily book trade headlines and breaking publishing news by email - just £3 a month. Click on the Subscribe button below to sign up now

Find out more

More Book Trade News

Nobel Prize in Literature Candidates 'Chosen'
www.mediabistro.com

Five writers have already been selected as candidates for the 2013 Nobel Prize, the permanent secretary of the Swedish Academy revealed via a Twitter dispatch

New York Times Bestseller Ebook List Shifts To Online Only
goodereader.com

Suspending the inclusion of ebook titles in the newspaper and only posting them on the website

Book Auction To Shine Light On The Secrets Of Quidditch
www.guardian.co.uk

Charity auction of annotated first edition novels gives unprecedented insight into the genesis of classic titles

Indie Booksellers Call For Action On Amazon's Tax Avoidance
www.guardian.co.uk

Independent retailers angry at lack of government intervention on web retailer's tax payments

Dutch Ebook Market Up 45% In Q1
www.digitalbookworld.com

Digital books nearly 4% of the Netherlands book market share in units so far for 2013

First Publishing Hackathon to be held in NYC and judged at BEA
www.mhpbooks.com

Book publishing is the industry that needs a hackathon most.

[More Book Trade News]