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HarperCollins Reports Healthy Sales Growth

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February 15-29, 2004 Edition

HarperCollins Reports

Healthy Sales Growth

NEW YORK, NY/2/11/04—HarperCollins, which began the first quarter of 2003 with sluggish sales, has seen a 4.6 percent increase in revenues over the last three fiscal quarters to $341 million. Operating income increased nearly 19 percent to $57 million.

The Zondervan division, which published the run-away bestseller, THE PURPOSE-DRIVEN LIFE (15 million copies sold worldwide), led the sales increase, according to CEO Jane Friedman.

The general books and children’s divisions both slightly declined in sales for the first quarter of 2003 and the first half of fiscal 2004, with Zondervan offsetting the decline.

Friedman expects gains across the board in in the second half of fiscal 2004. January sales for the general books group took a huge leap, and sales have continued to be strong in February.