Baker Reports 16% Growth
By Lynn Garrett -- Publishers Weekly, 5/20/2008 9:42:00 AM
Baker Publishing Group reported record results for its fiscal year ending April 30, 2008, with publishing sales up 16%, to $57.9 million. President Dwight Baker emphasized that although sales of its bestselling 90 Minutes in Heaven helped the company achieve the gain, “this is much more comprehensive, with growth in all divisions.” Revell was up 26 %; Chosen, 25 %; Baker Books, 15 %; Baker Academic, 13 %; Brazos, 10 %, and Bethany House, 9 %. “In just about all channels and all categories we are up,” Baker said.
“Baker noted that “last year trended slightly downward, so this is coming off a year that was not our best. But it was still up substantially over our previous best year, which was fiscal 2006.” He said the dip in 2007 was due to “an adjustment in the general merchandise area—the big boxes and mass merchants. When sales of The Purpose-Driven Life started to slow, they retreated from the whole inspirational category and then rebuilt it. That shift created for us a lackluster year in ’07.”
In the coming fiscal year, in the midst of a tough economy, “We have a solid list, and I believe we’ll be able to hold ground,” Baker said. “But the costs of transportation and packaging are going to be eating into margin for everyone.”
Baker Publishing Group publishes 300 new titles a year and has 200 employees at its Grand Rapids and Minneapolis offices. In addition to its six imprints, Baker is the exclusive North American distributor for Cambridge Bibles.
