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September 15-30, 2005 Edition
Posts Dip in Sales,
But Profits IncreaseGERMANY/9/8/2005German media giant Bertelsmann, which owns Random House, announced on September 7 that its operating results increased for the six months of 2005 by 8.1% to $825.99 million, up from $741.77 million for the same period last year.
Random House operating earnings before interest and taxes saw a substantial increase from $38.57 million in 2004 to $59.72 million for the six-month period in 2005. Profits were helped by strong sales for titles such as Dan Browns The Da Vinci Code, Mireille Guilianos French Women Dont Get Fat; and John Grishams The Broker.
Revenues for the Random House division, however, fell by $23.65 million for this period, partly due to an unfavorable exchange rate between the euro to the dollar.
Random House profits rose worldwide for the first half of 2005, with the strongest increases coming from the companys London division, which prospered from publishing six national bestsellers during the period.
The Random House Publishing Group was formed in 2003, uniting the two divisions formerly known as the Random House Trade Group and the Ballantine Books Group. Publishing in all formatshardcover, trade paperback and mass marketit encompasses the following imprints: Ballantine Books, Ballantine Reader’s Circle, Del Rey, Fawcett, Ivy, Modern Library, One World, Presidio Press, Random House, Random House Trade Paperbacks, and Villard.
With more than 9,000 new books issued a year, Random House is the worlds largest general-interest book publisher.