Sales Down, Earnings Up at Bertelsmann

-- Publishers Weekly, 5/8/2008 7:11:00 AM

In a brief update on its 2008 first quarter performance, Bertelsmann provided no hint of the future of Random House chairman Peter Olson. The media giant reported that total revenue in the period fell 3.9%, to 4.21 billion euros, due to currency fluctuations and a decline in sales of the North America Direct Group, which is up for sale. Excluding currency changes, revenue was off 1.7%. Operating earnings before interest rose to 217 million euros from 198 million euros.