wfn.org | PUBLISHING CORPORATION'S FUTURE STILL PROMISING,

[PCUSA_NEWS@ecunet.org]

25-May-95

95173    PUBLISHING CORPORATION'S FUTURE STILL PROMISING, 
                         OFFICIALS SAY 
 
                        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. 
 
 

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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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