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PW: Nelson Reports Gains in Fiscal '98

-- Publishers Weekly, 6/15/1998

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Nelson Reports Gains in Fiscal '98
-- 6/15/98

Revenues at Thomas Nelson rose 3.9%, to $253 million, for the year ended March 31, 1998. Net income fell to $12.7 million from $26.1 million, although earnings in fiscal 1997 include a gain of $16.5 million from Nelson's sale of its music division. Earnings from continuing operations rose 33.1%, to $12.7 million.

Nelson attributed the overall improvement to a strong performance from its publishing business, which offset a slight decline in sales from its gift unit. Company chairman Sam Moore said that fiscal 1998 "was a good year for us," and he was very bullish on the prospects for fiscal 1999. Moore said he sees good opportunities for growth in the adult, children's and academic markets, as well as in specialty fields.

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