CBS reported fourth-quarter sales after the close of the market, with sales of Simon & Schuster doing well given the economic climate, rising one percent to $245 million. Earnings suffered, however, as OIBDA declined 4 percent, at $28.3 million, and operating income was off 3 percent, at $26.1 million. The publisher took a $4.2 million “restructuring charge,” primarily due to the layoffs in December, though also including a modest charge due to the bankruptcy of Woolworth’s in the UK. For the full year, S&S had sales of $858 million, down three percent, as OIBDA of $88.2 million reflected a 9 […]
