Backlist Drove Nelson in 2002

With some facts and figures from Thomas Nelson's year-end filing with the Securities and Exchange Commission, the publisher noted that for the fiscal year ended March 31, 2002, its book division had about 1,100 backlist titles that generated approximately 50% of the division's revenues. In its Bible division, Nelson reported that 55% of revenues in the unit came from proprietary product, as the company continues to focus more of its publishing efforts there. Nelson publishes more than 1,100 different Bibles and Bible-related products.

During the year, the company sold its gift division, C.R. Gibson, to C.R. Acquisition Corp. As part of the deal, Joseph Moore left Nelson to head Gibson under its new ownership. Moore's departure from Nelson triggered the "change in control" clause in his contract, and he received a one-time payment of $736,665, or twice his annual base salary.