Future Publishing Loses $96 Million

Gamasutra covers a large reported loss by Future Publishing, the UK games-mag publisher of outlets like Edge, the three official UK magazines, and the U.S. Official Xbox Magazine. Their pre-tax losses totaled $95.6 million, while profits were down $39.8 million to $26.7 million. From the article: "Future CEO Stevie Spring commented, 'It is clear with hindsight that during the past two years, Future over-invested in acquisitions and under-invested in organic development. The consequences of this strategy are clearly evident in today's disappointing results ... We have taken a number of steps to strengthen the business. These actions have created significant cost savings which we are fully re-investing in the business.'" More regrettable signs of a a fading print industry.

Comments

Accounting Math

[TubeSteak]

For those of you confused about how a company can make a profit while reporting losses, the losses came from other things like a charge on assets, not a loss based on poor sales.

And this is using Generally Accepted Accounting Practices (GAAP), not Hollywood/Government style accounting.