Taste of Home Entertaining News

Taste of Home Entertaining SOLD

Business Journal | 8/1/2008

Terms of the transaction, which will result in the company relinquishing its name, were not disclosed. Taste of Home is the popular food magazine brand acquired by Reader's Digest (NYSE: RDA) when it purchased Reiman Publications of Greendale in 2002.

Bill Shaw, Taste of Home's president and founder, is also an investor and will retain his operating role.

Taste of Home Entertaining will change its name by year end, Reader's Digest said July 25. Taste of Home Entertaining, launched in 2006, is a party plan business focused on entertaining products sold by independent consultants who host sales events in homes all across America.

Taste of Home Entertaining Parent Co Get New President

PRNewswire | 5/26/2007

"I am delighted to appoint Lisa as President of Allrecipes.com. We will clearly benefit from her impressive leadership skills in sales, marketing, branding, and business management, particularly in the social networking space," Grimes said. "Allrecipes.com holds a unique position in the online marketplace and has a terrific core team. As we celebrate our 10 year anniversary, Lisa comes to us at just the right time to chart the next stage of our business development and position us for continued long-term success."

Taste of Home Entertaining Parent Co Announces Revenues

Yahoo Finance | 1/25/2007

PLEASANTVILLE, N.Y., Jan. 25 /PRNewswire-FirstCall/ -- The Reader's Digest Association, Inc. (NYSE: RDA - News) today reported higher revenues, operating profits, Earnings Per Share and cash flow for the second quarter of Fiscal 2007 ended December 31, 2006, versus the second quarter of Fiscal 2006, reflecting stronger operating results at RD North America and RD International. Following are company-wide results for the Fiscal 2007 quarter compared with Fiscal 2006:

-- Revenues were $802 million, versus $765 million. -- Operating Profits were $114 million, versus a loss of $(76) million. -- Net Income was $62 million, versus a loss of $(122) million. -- EPS was $0.65, versus a loss of $(1.27). -- Free Cash Flow was $133 million, versus $120 million.

For Fiscal 2007, reported results for the quarter included a loss on the sale of American Woodworker of $(6) million, and costs related to the pending merger with an entity formed by an investor group led by Ripplewood Holdings L.L.C. totaling $(5) million, which included higher stock-based compensation expenses as a result of increases in the company's stock price and non-operating transaction costs (see chart, below). Excluding these items, Adjusted Operating Profits were $122 million and Adjusted EPS was $0.72. For Fiscal 2006, reported results included a non-cash charge of $(188) million, or $(1.94) per share, in connection with the write-down of goodwill associated with Books Are Fun and a gain on an asset sale of $1 million. Excluding these items, Fiscal 2006 Adjusted Operating Profits were $111 million, and Adjusted EPS was $0.67.

Taste of Home Entertaining Parent Company Sold

DMNews | 12/2/2006

A U.S. investor group led by Ripplewood Holdings LLC will buy Reader’s Digest Association Inc. for $2.4 billion, including the assumption of debt.

The board of directors of Reader’s Digest, an iconic publishing and direct marketing company, has approved the merger and recommended to the holders of its common stock that they adopt the merger. The deal ends a 16-year run for Reader’s Digest as a publicly traded company.

“If this acquisition is completed, it will return RDA to its roots — as a private company,” Eric Schrier, CEO of Reader’s Digest, said in a letter to employees dated Nov. 16, the day the news was announced. “Much has been written about going private, and of the advantages for some organizations when time-consuming public disclosure and shorter-term, quarter-to-quarter pressures are alleviated.”

Mr. Schrier took over as CEO from Thomas Ryder, who said late last year that he would step down as chief executive but remain chairman through 2006.

“Obviously, this is a momentous step,” Mr. Schrier wrote. “But it does not fundamentally change what we are trying to accomplish together. And it does not fundamentally change what kind of company we are, or are striving to be.”

It was unclear whether the deal would bring management changes at the Pleasantville, NY, company.

Taste of home entertaining in the news

SB Sun | 8/9/2006

Taste of Home Entertaining Inc. is a direct sales company that offers kitchen gadgets, functional home decor and cookbooks from such notable chefs as Rachael Ray and Mario Batali through in-home parties...

Taste of Home Entertaining Parent Plans Expansion

The Journal News | 8/4/2006

The Reader's Digest Association Inc. yesterday reported higher profits for its fourth quarter ending June 30 but larger losses for the fiscal year, with revenues flat overall. It was a familiar story to dissatisfied shareholders, who beat the stock down to a new 52-week low.

Reader's Digest stock closed at $12.96, down 4.8 percent, on heavy volume.

...Schrier said the company has promising new projects in the works. It is integrating Allrecipes.com, a Web site for home cooking that Reader's Digest bought last year, into the rest of the company's food businesses. It also plans to expand its Taste of Home Entertaining party plan business...

Taste of Home Entertaining 4Q Results

Yahoo Finance | 8/3/2006

PLEASANTVILLE, N.Y., Aug. 2 /PRNewswire-FirstCall/ -- The Reader's Digest Association, Inc. (NYSE: RDA - News) today reported results for the fourth quarter and full year of Fiscal 2006 ended June 30, 2006. Results for the Fiscal 2006 fourth quarter, versus the same quarter in Fiscal 2005:

* Revenues were $557 million, up slightly versus last year. Adjusting for foreign-currency exchange fluctuation, consolidated revenues were down 1 percent.

* Reported operating profits were $28 million, including a $(10) million restructuring charge, mainly for Books Are Fun (BAF), a $(7) million inventory charge to revalue BAF inventory for discontinued lines of business and to facilitate sales through alternative channels, and a $(6) million charge at QSP reflecting the cost of a strategic reduction in chocolate purchases. Reported operating profits in the Fiscal 2005 fourth quarter were $28 million.

* Adjusted Operating Profits were $45 million, versus $39 million in Fiscal 2005 (see table).

Taste of Home Entertaining in the News

Business Week | 7/27/2006

Shares finished at $13.81 on July 26, up 5.2% from a 52-week low touched on June 13. Still, some analysts spot few factors likely to improve the stock price further, particularly as Reader's Digest's full-year earnings tend to be weighed toward December-quarter results. "We do not see a catalyst for [the] shares near term, given its seasonality and general economic concerns," Merrill Lynch analyst Karl Choi wrote in a July 10 report. Choi has a neutral recommendation on the stock. (Merrill owns 1% or more of Reader's Digest stock and makes a market in the securities.)

Taste of Home Entertaining Events

The Journal News | 7/22/2006

The Reader's Digest Association Inc. has a party planning business that is making its debut. With 5,000 consultants, Taste of Home Entertaining has more than 8,000 events scheduled for this summer, the Chappaqua-based magazine publisher announced. The business was conceived by its president and chief executive officer, Bill Shaw, and his wife, both of whom have extensive backgrounds in party planning. Bill Shaw previously developed the business model behind the direct-selling company Southern Living at Home. RDA acquired Reiman Publishing and their flagship magazine, Taste of Home, in 2002.

Culinary parties focus on taste and on sales

Toledo Blade | 7/10/2006

Taste of Home Entertaining in Hometown Life

Hometown Life | 6/10/2006

When it comes to home entertaining, Debbie Carter has you covered

Carter is a new sales consultant for Taste of Home Entertaining, owned by the Readers Digest Company.

"We deal with everything having to do with entertaining," said Carter. Her products include a full line of cookbooks, magazines, cookware, cutlery, kitchen tools, glassware, dishes, flatware and decorative items.

While some of the products have a sleek modern look, like some serving utensils, many items follow a Tuscan theme.

Carter first got involved with Taste of Home Entertaining earlier this year after finding an ad for it in the newspaper. She responded to the ad and received her sales kit about a month ago.

Most of her sales take place at home parties.

Readers Digest Announces 3Q Earnings Gains

PR Newswire | 4/28/2006

The Reader's Digest Association, Inc. RDA today reported results for the third quarter of Fiscal 2006 ended March 31, 2006. The following are company-wide results:

-- Revenues were $547 million, versus $545 million. Adjusting for foreign-currency exchange fluctuation, revenues were up 2 percent. -- Operating profits were $10 million, versus a prior-year loss of $(121) million that included charges of $(13) million for deferred promotion, $(129) million to write down goodwill at Books Are Fun (BAF) and a $5 million gain on the sale of an asset. Adjusted operating profit in the Fiscal 2005 quarter was $16 million. -- EPS was $0.01, versus a prior-year loss of $(1.33) that included the deferred promotion and goodwill charges and a gain on the sale of an asset. Adjusted EPS in the Fiscal 2005 quarter was $0.04.