Quarto Group, Inc. Announces Interim Management Statement for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year 2014
May 08, 2014 at 07:00 am
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Quarto Group, Inc. announced Interim Management Statement for the first quarter ended March 31, 2014. For the quarter, the company announced revenue of $29.4 million compared to $32.0 million a year ago. Underlying revenues were down 1%. The Group's net debt on 30 April 2014 was $82.5 million compared to $91.3 million a year ago. Net debt, at constant currency was down $11.0 million, at $80.3 million. This reduction reflects the ongoing focus on debt reduction that includes the sale, completed in March, of a property in Switzerland for $1.8 million resulting in an exceptional gain of $0.6 million.
On the basis of current levels of trading, the Group is on track to meet management expectations for the year 2014 and deliver both debt reduction and organic growth.
The Quarto Group, Inc. is a United Kingdom-based illustrated book publisher. The Company creates a variety of books and intellectual property products. The Companyâs products are available in many formats for adults, children and the whole family. The Company encompasses a diverse portfolio of imprints and businesses, which develops long-lasting content across specific niches of interest. The Company sells and distributes its products globally in over 50 countries and 40 languages, through a variety of sales channels, partnerships and routes to market. The Company has two segments: US Publishing and UK Publishing. Its publishing is focused on its categories, such as arts, crafts and hobbies; cooking; fiction; gardening, house and home; health and spirituality; history, biography and culture; kids and teens; math, science and nature; stationery and gifts; transportation, and travel and recreation. Its imprints include becker&mayer! books, becker&mayer! kids, Chartwell Books and others.
THE QUARTO GROUP, INC. 
