Reader's Digest Association Inc., Pleasantville, NY, reported net revenue has increased for the fiscal 2000 third quarter, growing 6% on an exchange adjusted basis, to $620 million. This is the second consecutive quarter net revenue has increased.The third quarter ended March 31.The increase in the company's revenue was helped by growth in new businesses in the United States including Books Are Fun
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Reader's Digest Association Inc., Pleasantville, NY, reported net revenue has increased for the fiscal 2000 third quarter, growing 6% on an exchange adjusted basis, to $620 million. This is the second consecutive quarter net revenue has increased.
The third quarter ended March 31.
The increase in the company's revenue was helped by growth in new businesses in the United States including Books Are Fun Ltd., and financial services as well as the growth of Books and Home Entertainment products and the "Reader's Digest" magazine outside of the United States, according to the company.
Operating profit for the quarter increased 18% from the prior year quarter despite significant investments of $18 million in core and new business initiatives.
