Simon & Schuster reported sales of $161.7 million for their fiscal first quarter, down 20 percent from $201.6 million a year ago (when the quarter was also down 12 percent in sales and 32 percent in income.) OIBDA evaporated to a slim $100,000, compared to $17.1 million a year ago, with an operating loss of $2.1 million, compared to operating income of $14.6 million a year ago. The company said “these decreases were driven by the revenue decline partially offset by lower expenses resulting from cost-saving initiatives.” CEO Carolyn Reidy says that the quarter started poorly and then improved. “In […]
