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But S&S is Doing Just Fine, Thank You

As part of CBS’s first quarter report, Simon & Schuster‘s revenues were up an astounding 27 percent from this time in 2006, zooming from $181 million to $227 million. That’s because of higher sales from best-selling titles, which in 2007 included THE SECRET by Rhonda Byrne, THE BEST LIFE DIET by Bob Greene and NINETEEN MINUTES by Jodi Picoult. OIBDA increased to $23.8 million from $5.8 million, and operating income increased to $21.4 million from $3.7 million, driven by the revenue increase partially offset by higher expenses, primarily reflecting increased production costs and royalty expenses. Publishing results included stock-based compensation expense of $.7 million and $.3 million for the first quarter of 2007 and 2006, respectively.

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