Reader’s Digest Profits Up 21%
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NEW YORK — Reader’s Digest Assn. Inc. said today its first-quarter earnings climbed 21.8% from a year ago as its revenue rose 18.6%.
The publisher of books and home entertainment products as well as Reader’s Digest magazine and several other titles said it earned $50.2 million in the three months ended Sept. 30. That compared to $41.2 million a year earlier.
Revenue rose to $524.1 million from $442 million a year ago.
The company said revenue from Reader’s Digest magazine rose 9.5% to $156.7 million in the quarter, while revenue from its other magazines including American Health rose 38.9% to $15.3 million.
It said revenue from books and its home entertainment products rose 23.5% to $339 million.
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