CBS reported first quarter results on Thursday afternoon, with Simon & Schuster recording sales of $164 million, up $4 million from the prior year period, attributed to “higher print book sales.” Operating income continued the long-term trend of steady improvement, up $1 million to $17 million. This marks the company’s seventeenth consecutive quarter of growth in profits. Counted outside of operating income was a $5 million charge as part of a CBS-wide voluntary restructuring plan. Similar to Penguin Random House’s voluntary separation offer last year, the initiative was “a one-time offer” of a voluntary buyout “based on a formula having […]
