News Brief
Reader's Digest Optimistic On 2003
Oct 25, 2002, 12:00 AM
"This business feels a lot better than it did last year," Reader's Digest Association CEO Tom Ryder told analysts Friday during the company's quarterly conference call. For the three months that ended September 30, Reader's Digest posted a quarterly loss due to the previously announced delay in the booking of some revenue from its book unit, Reiman Publications. For the quarter, revenue was $517.1 million, an increase of 4% over a year earlier. Net losses of $5.2 million were recorded, up from $1.1 million last year. Ryder expects advertising to pick-up significantly in the next three months, and he pointed to the recent remake of Reader's Digest's flagship publication. Looking ahead, Ryder is optimistic about the coming year, particularly about a new "family magazine" set to debut in 2003. "It's early, but the research looks good," he told analysts. The company has announced the magazine's rate base will fall to 11 million next year. "We have no plans to take it further down than that," said Ryder, noting that despite the circulation decreases Reader's Digest expects to increase its ad rates in 2003.
Recent Online Media Daily Articles
-
Coca-Cola Loses Bid To Dismiss Text-Spam Case May 24, 5:41 p.m.
Consumers can proceed with a lawsuit against Coca-Cola for allegedly sending them unwanted SMS messages, a ... -
Disaster Ready: Google Maps Model Quickly Adjusts To Events May 24, 5:29 p.m.
The four-lane bridge in Washington state that partially collapsed Thursday into the Skagit River was removed ... -
Pandora Beats Rev Estimates, Adds Subscribers May 24, 5:01 p.m.
Online radio service Pandora on Thursday reported that revenue rose 55% in the first quarter to $126 ... -
Real-Time Web Turns Consumers Into Impulse Buyers May 24, 4:37 p.m.
Video, mobile, social, and better search capabilities continue to make it easy for consumers to buy ... -
Mugnier Shares M&C Saatchi's Mobile Approach May 24, 4:32 p.m.
M&C Saatchi Mobile was formed three years ago through the acquisition of mobile marketing agency Inside ... -
Yahoo Search Experiments With New Look May 23, 6:30 p.m.
Yahoo Search has been experimenting with colors, features and layouts, as the company tries to determine ... -
Path Seeks Dismissal Of Wireless-Spam Case May 23, 5:07 p.m.
Mobile social network Path is asking a federal judge to dismiss a lawsuit alleging that the ... -
Amazon Appstore Goes Global May 23, 4:59 p.m.
Amazon may have been late to the app store game, but that hasn’t stopped it from ... -
Data Is Springboard For Product Development May 23, 4:44 p.m.
iProspect named Ben Wood to global president Thursday; he's tasked with growing the company's network and ... -
Vice, Twitter Partner For Mobile Show May 23, 2:14 p.m.
Simultaneously expanding its video and social strategy, Vice on Thursday unveiled #dailyvice -- a daily show ...
Be the first to comment on "Reader's Digest Optimistic On 2003"
Leave a Comment