RDA Sees Widening Losses
Reader’s Digest Association’s losses ballooned in the first three months of 2009 as the company dealt with declines in consumer spending and advertising.
The parent of iconic Reader’s Digest magazine revealed a $462 million net loss on revenue of $479.1 million in the quarter ended March 31. That is compared with a $53.6 million net loss on revenue of $575.1 million in the year-earlier quarter, according to a Securities and Exchange Commission filing.
For the nine months ended March 31, RDA’s net loss climbed to $652.6
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