Sales Up at S&S, But Profits Dip

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Friday 24th May

Sales Up at S&S, But Profits Dip

Posted at 9:06AM Friday 15 Feb 2013

Simon & Schuster finished 2012 with a bump in sales to $790 million from $787 million in 2011, but operating income dipped to $80 million from $83 million due in part to costs associated with settling three e-book price fixing cases brought by the Department of Justice, 49 states plus the consumer class action. With the "considerable costs" of the various litigations and settlements, S&S would have had "a stupendous year," CEO Carolyn Reidy said.

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