Tribune Sales to Schools Hit $184 Million
-- Publishers Weekly, 4/26/1999
Sales to the domestic school market accounted for 56%, or $184 million, of total revenue in Tribune's education division in 1998, the company reported in its 10-K filing with the Securities &Exchange Commission. Sales to the U.S. consumer market generated 38% ($125 million) of overall revenues, while sales to the international market accounted for 6% ($20 million).To help increase its presence in the international market, Tribune acquired Mimosa Publications in March. Based in Australia, Mimosa publishes reading, language arts, math, science and English-language teaching materials for the international school market.
Earlier this year, Tribune reported total education sales of $329 million (News, Feb. 1). The education segment represented 11% of Tribune's total revenues last year, compared to 8% in 1997, and the company plans to continue to grow the division through a combination of internal expansion and acquisitions in both the school and consumer markets.
For the first quarter of 1999, Tribune reported that sales in the education unit rose 7% to $64 million, while the operating loss increased to $1.1 million from $700,000.
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