PW: Williamson Resigns from Nelson

Publishing Sales Up 6.8%

Sales in Nelson's publishing group rose 6.8% to $163.8 million for the year ended March 31, 1998. Improvement in the publishing division was led by children's, gift books and reference product. In its annual report, Nelson chairman Sam Moore also noted that due to tighter inventory controls, returns were down significantly in the year.

Sales in Nelson's gift group fell to $89.1 million from $90.1 million in fiscal 1997. Nelson said its decision to get out of certain high-volume but low-margin businesses was the main factor in the slight sales decline in the group.

Looking at some other highlights in the year, Nelson reported that about 7% of book division revenues was generated by its distribution business of other publishers' titles. The company also noted that 48% of book sales came from its backlist and that it earned a total of $20.1 million from exports.