Christian Retailing

Robertson family titles help maintain Simon & Schuster profits Print Email
Written by Christine D. Johnson   
Thursday, 06 November 2014 11:50 AM America/New_York

SimonSchuster-webCBS Corporation reported its third-quarter 2014 earnings Wednesday for the three months ending Sept. 30. Simon & Schuster revenues for the third quarter were down substantially to $199 million compared with $224 million for the same prior-year period when the publishing company benefited from the popularity of Si-Cology by Si Robertson (Howard Books) and Doctor Sleep by Stephen King (Gallery Books).

Best-selling titles for 2014’s third quarter included another Robertson family title, unPHILtered by Phil Robertson (Howard Books), and Dork Diaries 8 by Rachel Renée Russell (Aladdin).

Simon & Schuster also reported that digital book sales represented 28% of total publishing revenues during the third quarter.

Publishing OIBDA (operating income before depreciation and amortization) for the third quarter of $43 million remained flat compared with the same prior-year period as lower inventory and selling costs offset the revenue decline. Operating income for the third quarter includes restructuring charges of $1 million.