|Simon & Schuster income up despite sales dip|
|Written by Christine D. Johnson|
|Monday, 12 May 2014 09:05 AM EDT|
Simon & Schuster publishing revenues for the first quarter of 2014 decreased 11% to $153 million, down $18 million from the same prior-year period, as 2013’s first quarter benefited from the continued success of fourth quarter 2012 releases, CBS Corp. reported.
E-book sales comprised 29% of the company’s total revenues from publishing in the first quarter.
Despite the decline in revenues, CBS reported that publishing OIBDA (operating income before depreciation and amortization) for the first quarter increased 8% to $13 million from $12 million for the same prior-year period, as lower revenues were more than offset by a decrease in operating expenses.
Best-selling titles for the first quarter included the Robertsons’ The Women of Duck Commander (Howard Books) and Rush Limbaugh’s Rush Revere and the First Patriots (Threshold Editions).