wfn.org | PPC Reports Strong 1996 Financial Results

[PCUSA.NEWS@pcusa.org]

12-May-1997 
97196 
 
               Presbyterian Publishing Corporation 
              Reports Strong 1996 Financial Results 
 
                         by Julian Shipp 
 
LOUISVILLE, Ky.--The Presbyterian Publishing Corporation (PPC) reported a 
profit of $1.2 million for 1996, corporation officials say, continuing the 
turnaround that began in 1994. 
 
     According to officials, contributing factors to PPC's financial 
results in 1996 included robust "Presbyterian Hymnal" sales, healthy "These 
Days" revenues and decreased costs due to better financial deals with 
printers. 
 
     A successful continuation of the PPC retail partnership with 
Cokesbury, stringent cost control measures by PPC staff and 
higher-than-budgeted interest income last year also contributed to PPC's 
favorable financial position. 
 
     The transfer of PREM curriculum, "Vanguard" and portions of other 
product lines from PPC to the Curriculum Publishing Program Area (CPPA) of 
the Congregational Ministries Division accounted for roughly $450,000 of 
the excess revenue over expenses. This was a result of action taken at the 
1996 General Assembly. An agreement detailing the transfer was signed on 
July 10, 1996, by PPC and Presbyterian Church (U.S.A.) a Corporation. 
 
     "1996 was a milestone year for PPC," said Davis Perkins, PPC president 
and publisher. "The stability that comes from having a secure financial 
base will allow PPC to serve the PC(USA) and our ecumenical markets ever 
more effectively. We look forward to expanding the parameters of our 
publishing program in new and exciting directions in the coming years." 
 
     The Presbyterian Publishing Corporation, the religious and trade book 
publisher for the Presbyterian Church (U.S.A.), produces educational 
resources for Presbyterian congregations and members and theological and 
religious books and other materials for a wider audience. 

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