Simon & Schuster’s remarkable streak of 19 consecutive quarters of earnings growth came to an end in the fourth quarter of 2019, reported this morning by new parent company ViacomCBS. Sales for the quarter were $215 million (down from $218 million in 2018, and $235 million in 2017), with adjusted operating income before depreciation and amortization [OIBDA] of $34 million, a sharper decline from $48 million at the end of 2018. For the full year, sales fell $9 million to $814 million, and adjusted OIBDA of $143 million was $10 million lower. (Note that this is a revised way of […]
