Broadview Press Inc.

Broadview Press Inc.

March 30, 2007 18:09 ET

Broadview Press Posts Record Sales, Small Loss in 2006

Year-End Results at December 31, 2006

CALGARY, ALBERTA--(CCNMatthews - March 30, 2007) -

(All figures are in Canadian dollars unless otherwise stated.)

Broadview Press (TSX VENTURE:BDP) reports net sales for the year were $4,088,845 (2005: $3,633,471), an increase of 12.5 per cent, stemming mainly from the publication during the year of The Broadview Anthology of British Literature (BABL). The company believes that 2006 sales of the anthology, though strong, were somewhat impaired by its late publication date and thus believes sales will be stronger in 2007, especially given the enthusiastic feedback received on this important project. To view such reaction, please visit and click on "What People Are Saying."

Sales growth was eclipsed by increased operating expenses and reduced margins, however. The 17.2 increase in operating expenses to $2,452,105 (2005: $2,091,966) was planned, with much of it dedicated to increased sales and marketing efforts surrounding the publication of BABL - efforts that the company believes will help drive sales in 2007 and beyond. Although the company's gross margin increased during the year when measured in dollars, gross margin as a percentage of total revenue fell to 55.2 per cent (2005: 58.8 per cent). This change is in part due to sales of BABL, which during its initial print run will be sold at modest margins, as the company expenses its significant developmental costs as the books sell. After the company goes to reprint on the six volumes of the anthology, unit costs will be reduced significantly, and margins will increase.

The overall result was a net loss for 2006 of $46,555 (2005: net income of $97,850). This represents a loss per share of $0.004 (2005 earnings per share of $0.009 per share).

Further details and analysis of the company's 2006 results are available in Broadview's annual audited financial statements, as well as its annual management discussion and analysis (which includes an examination of fourth quarter results in isolation). These can be obtained by visiting Alternately, please contact Craig Lawson (see below) to have these documents sent to you directly.

Broadview Press is an internationally-oriented, Canadian-based publisher of books aimed at the university and college textbook market.

Forward-Looking Statements:

This document contains forward-looking statements involving Broadview's expectations about future financial results and other matters. These statements reflect management's current forecast of certain aspects of Broadview's future business. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or current expectations. The words "plan," "expect," "believe," "intent," "anticipate," "forecast," "target," "estimate," "should," "will" and similar expressions identify forward-looking statements. Risk factors include shifts in consumer demand, product schedules, product mix, competitive products and pricing, technological shifts, foreign exchange changes and other variables. Readers are referred to Broadview's other public documents for further discussions of risks and uncertainties. The factors underlying forecasts are dynamic and subject to change. As a result, forecasts speak only as of the date they are given and do not necessarily reflect Broadview's outlook at any other point in time.

Closing Share Price: $0.135 (at March 29, 2006)

Shares issued: 11,111,107 (at March 29, 2006)

Contact Information

  • Broadview Press Inc.
    Michael Harrison
    President and CEO
    (519) 837-0915 (Guelph, ON)
    Broadview Press Inc.
    Craig Lawson
    Chief Operating Officer
    (403) 232-6863 (Calgary, AB)