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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Scholastic Revenues Fall 6% 0 comments
    Sep 19, 2013 9:44 AM | about stocks: SCHL

    Originally published at www.seclive.com

    Scholastic Corporation (NASDAQ:SCHL) announced its first quarter financial results for fiscal year 2014, reaffirming its annual guidance but falling short on revenue. The company, which has experienced a decrease in its book sales, particularly in the "Harry Potter" series and "The Hunger Games" trilogy, has been seeking ways to cut costs to try and offset its decreased sales. Scholastic still stands behind its previously issued annual guidance of $1.8B in sales with $1.40 to $1.80 earnings per share. First quarter company-wide revenue dropped 6% to $276.3M, falling well short of analyst predictions of $293.4M, marking the fifth straight quarter the company has missed expectations. Children's book publishing and distribution revenues fell 23%, while international sales decline 13%. Scholastic recorded a net loss of $30.1M, or $0.94 losses per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: SCHL
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