Sales at Simon & Schuster fell 6 percent in their fiscal first quarter, down $10 million to $151.7 million. But adjusted OIBDA improved to $3.6 million, still slim but an improvement over essentially no earnings this time last year. The unit did take an additional $1.5 million restructuring charge during this quarter, related to previously-announced reorganizations of their Australian unit the US field sales force. Parent company CBS blames “the continued soft retail market,” which was “partially offset by significantly higher digital sales…such as ebooks, audio downloads and stand-alone applications.” The improvement in margins is “the result of strong cost […]
