Profits Jump at Hachette; December E-book Sales Soar
Jim Milliot -- Publishers Weekly, 3/10/2010

Despite slowing sales of the Stephenie Meyer Twilight series, Hachette Book Group USA had double-digit sales growth in 2009 and contributed the majority of the €58 million gain in EBIT (earnings before interest and taxes) recorded by the entire Lagardere Publishing group, parent company Lagardere reported Wednesday. Total EBIT rose 24% at the publishing group to €301 million. Earlier this year, the publishing group reported a 5.3% increase in revenue to €2.28 billion ($3.1 billion).

In addition to the U.S., Lagardere said profits improved in France as well. Total profit growth "was much less strong in the second half of 2009 than in the first half," Lagardere reported. Sales at HBG USA declined significantly in the fourth quarter as comparisons with 2008 were made difficult by the strong sales in that period of Meyer's titles. Offsetting the drop in Meyer titles a bit was the growth in e-book sales. According to Lagardere, e-book sales in December in the U.S. were $5 million, a total that surpassed e-book sales for all of 2008. E-book sales represented 3% of full year sales at HBG USA in 2009.