Reader's Digest Canada one of few bright spots for parent company

Reader's Digest Canada is one of the few bright spots for Reader's Digest Association, which has posted an operating loss of $337 million for fiscal 2008, compared with a lost of a tenth of that last year. Most of the loss is attributed to writedowns in its school and educuational services division, according to a story published by Folio:

According to the report, RDA’s fiscal 2008 net revenue was $2.78 billion, up about 40 percent from $1.07 billion last year. More than half its revenue came from its international division, which is includes RD Europe, RD Asia Pacific, and RD Canada and Latin America. Net revenue from its U.S. business segment (formerly Reader’s Digest North America) was down $21 million during fiscal 2008.