RDA Blames Third-Quarter Loss on Rachael Ray Magazine
Revenue declined 4.7 percent
In an earnings call yesterday, Reader’s Digest Association blamed its quarterly loss on Rachael Ray—specifically, her magazine Every Day With Rachael Ray.
The company said that it lost $16.6 million in the third quarter before interest, depreciation and amortization—a $6 million increase from the same period year ago, when RDA reported a $10.6 million loss. However, the company’s net loss, which includes one-time charges, declined to $76.8 million from $86.8 million.
Revenue was also slightly down, dropping 4.7
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