Earnings Reports: Sales Up, Profits Down at S&S, as Harlequin Toughs Out Another Quarter Similar to their report from last quarter, sales at Simon & Schuster rose by 2 percent (“outstanding,” as the British would say) to $197.4 million, helped again by “higher distribution fees.” But operating income fell by 13 percent, to $20.3 million, blamed on “an increase of $6 million to the allowance for doubtful accounts.” CEO Les Moonves said he plans to recommend a stock buyback of between $1 billion and $1.5 billion to the board. CBS release Harlequin continues to struggle, and the company offers its […]
