Augsburg Fortress, Publishers, had a net operating profit of nearly $3.3 million through the end of September, its board of trustees heard at an Oct. 19-20 meeting in Minneapolis.
Net sales were at $39,177,000, including $11.4 million in sales of Evangelical Lutheran Worship resources. Chief financial officer John Rahja said most of the year’s ELW income through September was generated by sales of 513,000 copies of the ELW pew edition.
The board adopted a confidential strategic plan through 2010. Beth A. Lewis, the company’s president and CEO, said the plan’s primary goal for the next three years is “to focus and wisely invest the human and financial resources of this organization for the future.”
The board also authorized spending up to $2.3 million for a unified “Enterprise Resource Planning” business management system to replace multiple operating systems. Lewis said employees engage in time-consuming, laborious processes to do routine work because of the company’s present systems. “There is risk in an [information technology] conversion, but I believe there is greater risk in our not doing it,” she said.
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