Sales at Simon & Schuster declined by $12.7 million in their third quarter, or 5.5 percent, at $217.7 million, but profits rose more, with adjusted OIBDA up $2.8 million (or 10 percent) to $31.2 million, and operating income of $29.5 million up 11 percent. CEO Carolyn Reidy says the increase in earnings is due to a combination of “a lot of the cost savings we worked hard on the last year and a half,” along with a more profitable mix of formats and associated gains from things like renegotiating their children’s book printing contracts. Reidy believes “there’s been a very […]
