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S&S US feels loss of The Secret
30.04.08 Anna Richardson
Simon & Schuster revenue for the first quarter of 2008 decreased 12% to $201.6m from $229.3m for the same period last year.
The company said that the decline in revenue was due to bestselling titles in the first quarter of 2008 not matching "contributions from prior year titles, which included The Secret by Rhonda Byrne".
Publishing OIBDA and operating income decreased 28% to $17.1m and 32% to $14.6m respectively, principally reflecting the decline in revenues partially offset by lower royalty expenses, production costs and selling and advertising expenses.
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