Conrad Resigns From Millbrook
Staff -- Publishers Weekly, 6/18/2001
Jeffrey Conrad, who has headed Millbrook Press since 1996, resigned from the company earlier this month over what sources said was a difference of opinion between himself and Millbrook chairman Howard Graham about the future direction of the company. With Conrad's departure, Millbrook is being led by an executive committee headed by Graham.
The company also reported that net income for the third quarter ended April 30, 2001, fell to $21,000 from $212,000 in the comparable period in fiscal 2000. Sales were up 5.3%, to $5.3 million. For the nine-month period, earnings fell 46.2%, to $458,000, while sales increased 2.6%, to $16 million. Graham said investment in Millbrook's Roaring Brook Press imprint, which is due to launch next spring, plus higher spending on its Copper Beech and Twenty-First Century programs have cut into earnings. Graham attributed the sales gain to strong sales through trade outlets that offset softer than expected sales to the school and public library markets.
