IDW Publishing, which publishes comics and graphic novels, posted a profit of $100,000 for the first fiscal quarter, which ended January 31. That’s the good news. IDW Media Holdings, the parent company that owns IDW Publishing, posted a loss of $6.8 million in the same quarter. IDWMH also owns IDW Entertainment and brochure distribution company CTM.
It’s a positive step for IDW Publishing, which previously saw losses of $5.2 million for fiscal 2019 and $3.4 million in 2018.
New division Clover Press, combines their financials with IDW Publishing, and saw a loss of $200,000 eating into the publishing wings $300,000 gains.
Publishing sales were $6.3 million for the quarter, up 21% from sales of $5.2 million in the corresponding quarter last year.
IDW Entertainment lost $5.6 million for the quarter with costs associated with Netflix’s October Faction and CTM lost $1.1 million.