Simon & Schuster’s parent company CBS reported first quarter results after the close of the market on Tuesday, with the publisher reporting flat sales of $145 million, as operating income was up $1 million to $13 million, “primarily reflecting lower production and selling costs” and driven by “operating efficiencies.” While sales were even with a year ago, that was a modest bar (since they had sales of $153 million in Q1 2014; $171 million in Q1 2013; and $176 million in Q1 2012). CEO Carolyn Reidy acknowledged to us the opening quarter has been soft “for the last couple of years” while adding […]
