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Millbrook Reports Results, Makes Acquisition
Jim Milliot -- 11/17/97
Sales at Millbrook Press rose 27% in the fiscal year that ended July 31, 1997, to $12.6 million, while the net loss at the company increased to $858,000 from $463,000. The company attributed the higher loss to costs associated with financing, adding new personnel and building the corporate infrastructure.
Company president Jeffrey Conrad said that Millbrook had exceeded its expectations in the trade and special markets. He added that Millbrook believes "that our margins will improve as the library market stabilizes and we focus on improving our margins in the consumer market."

Millbrook moved to expand its operations through the purchase of Twenty-First Century Books from Henry Holt. Twenty-First Century is a publisher of nonfiction high-school library books that generated revenues of about $2.5 million in 1996. Terms of the purchase were not disclosed. Millbrook said it intends to operate Twenty-First Century as a separate unit.
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