Taste of Home Entertaining 4Q Results
PLEASANTVILLE, N.Y., Aug. 2 /PRNewswire-FirstCall/ -- The Reader's Digest Association, Inc. (NYSE: RDA - News) today reported results for the fourth quarter and full year of Fiscal 2006 ended June 30, 2006. Results for the Fiscal 2006 fourth quarter, versus the same quarter in Fiscal 2005:
* Revenues were $557 million, up slightly versus last year. Adjusting for foreign-currency exchange fluctuation, consolidated revenues were down 1 percent.
* Reported operating profits were $28 million, including a $(10) million restructuring charge, mainly for Books Are Fun (BAF), a $(7) million inventory charge to revalue BAF inventory for discontinued lines of business and to facilitate sales through alternative channels, and a $(6) million charge at QSP reflecting the cost of a strategic reduction in chocolate purchases. Reported operating profits in the Fiscal 2005 fourth quarter were $28 million.
* Adjusted Operating Profits were $45 million, versus $39 million in Fiscal 2005 (see table).
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