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The Magazine of The Evangelical Lutheran Church in America

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Augsburg Fortress loses $3 million

Publisher also reacts to criticism from the ELCA's congregational ministry division

Augsburg Fortress, the ELCA's publishing house, experienced a net loss of $3 million in 2000, George Poehlman told the group's board of trustees at its April 19-21 meeting in Phoenix. The house reported a $1.1 million profit in 1999.

A $1.3 million increase in operating expenses, along with costs for inventory reserves, new projects and other expenses, led to the $3 million loss, said Poehlman, vice president for finance.


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