Readers Digest Announces 3Q Earnings Gains
The Reader's Digest Association, Inc. RDA today reported results for the third quarter of Fiscal 2006 ended March 31, 2006. The following are company-wide results:
-- Revenues were $547 million, versus $545 million. Adjusting for foreign-currency exchange fluctuation, revenues were up 2 percent. -- Operating profits were $10 million, versus a prior-year loss of $(121) million that included charges of $(13) million for deferred promotion, $(129) million to write down goodwill at Books Are Fun (BAF) and a $5 million gain on the sale of an asset. Adjusted operating profit in the Fiscal 2005 quarter was $16 million. -- EPS was $0.01, versus a prior-year loss of $(1.33) that included the deferred promotion and goodwill charges and a gain on the sale of an asset. Adjusted EPS in the Fiscal 2005 quarter was $0.04.
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