From the Worldwide Faith News archives www.wfn.org
PUBLISHING CORPORATION'S FUTURE
05 May 1996 15:18:45
95078 PUBLISHING CORPORATION'S FUTURE
LOOKS PROMISING, OFFICIALS SAY
By Julian Shipp
LOUISVILLE, Ky.-- The future of Presbyterian Publishing Corp. (PPC) looks
promising, according to corporation executives who presented an update
during the March 8--12 General Assembly Council (GAC) meeting.
PPC's 1995 budget forecasts a $14,000 profit and Price H. Gwynn III,
PPC board chair from Charlotte, N.C., cited five reasons he believes PPC is
on the road to profitability and economic stability:
*the "can-do spirit" of PPC employees
*stringent cost-cutting measures
*an extensive reduction in staff
*strong sales momentum among several PPC product lines
*the power of prayer.
"We finished 1994 with an operating surplus of two-tenths of 1 percent
of sales," Gwynn said, adding PPC published 62 new titles in 1994. "That
means we are still tenuous, fragile and painfully thin. But during the
previous year we lost over $1 million, so the turnaround is tremendous."
PPC's total 1994 curriculum sales came in $1.4 million below budget.
Estimated 1994 curriculum sales, including the revised "Celebrate" series,
were $5.6 million, versus a curriculum sales budget of $7.2 million.
Gwynn said sales resulting from the "outsourcing" of PPC's retail arm
to Cokesbury are "up sharply" and PPC's upgrading of computer hardware and
software has resulted in a savings of approximately $10,000 a month.
Additionally, Gwynn said, PPC recently signed a two-year curriculum
development contract with the Rev. James D. Brown, GAC executive director;
and Davis Perkins, PPC president and publisher; regarding the sharing of
profits or losses from the corporation's curriculum sales.
According to Brown, the contract also outlines how PPC and GAC
entities will work as partners in the future sharing of resources that come
through the sale of Christian education materials.
To celebrate, Gwynn said, PPC will throw a privately financed,
invitation only party May 22 at the Kentucky Derby Museum in Louisville.
Perkins said PPC is involved in "deliberate" and "intensive"
telemarketing activities regarding its curriculum material and initial
results suggest such efforts will continue in the future.
Perkins said PPC will also continue to seek "bottom-line
profitability" from Westminster/John Knox Press. Additionally, several new
program resources will be introduced this year. These include a new
biblical series for laity scheduled for release this fall and two
electronic versions of The Book of Common Worship tentatively scheduled for
Organizationally, Perkins said, PPC is doing "more with less." The
company now has about 20 fewer employees than it had prior to last year's
downsizing. Nonetheless, Perkins said, the corporation is not yet in the
"The economic forecast for 1995 is partly sunny," he concluded. "But
there's no reason yet to take PPC off your prayer list. We still need your
prayers and your business."
# # #
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
Browse month . . .
Browse month (sort by Source) . . .
Advanced Search & Browse . . .