CBS reported fourth quarter earnings after the close of the market on Thursday, with Simon & Schuster recording a 6 percent decrease in sales, down $14 million to $215 million. Consistent with their recent pattern, however, profits rose even with lower sales. Adjusted OIBDA gained $3 million (or 11 percent) to $31 million, and adjusted operating income rose $2 million, at $27 million. S&S took a $3 million restructuring charge this quarter related to their realignment into new “publishing groups” and the elimination of some positions. (This time a year ago they took a $2 million charge.) As usual, CBS […]
