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Avalon publishing positioned for better 2006.(Looking Ahead)
The extension of its distribution agreement and a 15% increase in sales in the first quarter--capped by its best month ever in March--is making it easier for Avalon Publishing Group head Charlie Winton to put 2005 behind him. Although sales rose 6% last year, helped by the acquisition of Shoemaker & Hoard Publishers, earnings slipped a bit. Winton explained that after a good start to 2005, sales began tailing off in the spring, at which point Winton decided to use the year to "clean up the balance sheet," a move that hurt the bottom line, while sales hit $32 million.
Business began improving in September and continued strong into 2006. Lower returns, good backlist …
