The Reader’s Digest Association, Inc. reported a net loss of $4.6 million for its third quarter, a turnaround from net income of $16.4 million last year.

The company said it would cut 200 jobs, or 4% of its international workforce, in an attempt to cut its overhead by $70 million.

The Pleasantville, NY firm reported revenue of $563.5 million for the quarter ended March 31, up 4% from $541.8 million last year.

The direct marketing and publishing giant reported net income of $74.4 million for the nine months ended March 31, down 21% from $94.2 million last year. Revenue for he period was $1.9 billion, up 5% from $1.8 billion last year.

As we expected, the quarter proved to be a difficult one,” said CEO Thomas Ryder in a statement. “Problems with our core business were exacerbated by further economic weakness in most parts of the world.”

Reader’s Digest attributed its revenue gain mostly to its recent acquisition of Reiman Publications.

The Reader’s Digest Association, Inc. reported a net loss of $4.6 million for its third quarter, a turnaround from net income of $16.4 million last year.

The company said it would cut 200 jobs, or 4% of its international workforce, in an attempt to cut its overhead by $70 million.

The Pleasantville, NY firm reported revenue of $563.5 million for the quarter ended March 31, up 4% from $541.8 million last year.

The direct marketing and publishing giant reported net income of $74.4 million for the nine months ended March 31, down 21% from $94.2 million last year. Revenue for he period was $1.9 billion, up 5% from $1.8 billion last year.

As we expected, the quarter proved to be a difficult one,” said CEO Thomas Ryder in a statement. “Problems with our core business were exacerbated by further economic weakness in most parts of the world.”

Reader’s Digest attributed its revenue gain mostly to its recent acquisition of Reiman Publications.