From the Worldwide Faith News archives www.wfn.org
PUBLISHING CORPORATION'S FUTURE STILL PROMISING,
05 May 1996 13:05:00
95173 PUBLISHING CORPORATION'S FUTURE STILL PROMISING,
By Julian Shipp
LOUISVILLE, Ky.--The economic forecast for Presbyterian Publishing
Corporation (PPC) remains encouraging, corporation executives said during
their board of directors meeting here May 22-23.
According to Price H. Gwynn III, PPC board chair from Charlotte, N.C.,
the corporation's 1995 budget forecasts a profit of $14,000.
"We're out of the chute in 1995 very, very well," said Davis Perkins,
PPC president and publisher. "It's still early in the year to draw any firm
conclusions about where we'll end up. Nevertheless, we have done some
forecasting and do have some good news to share."
PPC's total 1994 curriculum sales came in $1.4 million below budget.
Actual 1994 curriculum sales, including the revised "Celebrate" series,
were $5.5 million, although $7.2 million was budgeted.
But estimated 1995 curriculum sales are $6.2 million and PPC is
currently on target to realize that goal, according to Doug Deatz, PPC vice
president and corporate treasurer.
First quarter 1995 figures are also promising. Although a loss of
$420,000 was predicted for this period, the actual figures show a net
profit of $155,000.
The net profit increase is due to higher levels of sales than those
originally budgeted. For example, curriculum sales at the end of the first
quarter came in at $1.1 million, although the budgeted amount was $995,000,
Deatz said. Overall, the total sales budget for January through March was
predicted at $2.7 million, but came in at $3.3 million.
To celebrate the good news, PPC threw a privately financed
invitation-only party May 22 at the Kentucky Derby Museum in Louisville.
Mina Grier, PPC director of curriculum, said strong sales momentum
among several PPC product lines is also heartening. For example, Grier
said, a new Vacation Bible School product called "The StoryTeller Series,"
is selling extremely well. Designed for children of all age levels, the
series includes five stories from Luke and are taught in the order they
appear in that Gospel.
"Excluding the ones that we sent out to our advocates, we have sold
almost 1,500 [workshop] starter kits," Grier said. "This is about triple
what we have averaged in the past years since 1989 for Vacation Bible
School starter kits."
Gwynn said he is also pleased over recently signed two-year curriculum
development contracts between the denomination and the publishing
corporation. The contracts outline how PPC and GAC entities will work as
partners in the future sharing of resources that come through the sale of
Christian education material.
Organizationally, Perkins said PPC continues to do more with less.
Although there have been 43 separations and 22 hirings at PPC since it
became a separate corporation, Perkins said he is pleased with the
performance of current and recently-hired employees.
"I think this speaks very well of our future," Perkins said.
For more information contact Presbyterian News Service
Presbyterian Church (U.S.A.), Louisville, KY 40202
phone 502-569-5504 fax 502-569-8073
E-mail PCUSA.NEWS@pcusa.org Web page: http://www.pcusa.org
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