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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 Net Loss Shrinks 0 comments
    Mar 20, 2014 10:59 AM | about stocks: SCHL

    Originally published at www.seclive.com

    Scholastic Corporation (NASDAQ:SCHL) announced its third fiscal quarter financial results, posting a net loss that tightened from a year ago. Revenue fell from $378.6M a year ago to $373.5M, with Educational Technology and Services revenue falling the most of all segments, by 14% from $41.8M to $35.8M. The company's largest segment, Children's Book Publishing and Distribution, rose slightly by 1% from $187.5M to $190.0M, with school book fair revenue increasing 3%. Scholastic's net loss shrunk from $20.1M and $0.63 per share to a net loss of $12.1M and $0.38 per share. Chairman, President, and CEO Richard Robinson remarked that the company had a great first half but the second half was impacted by sales forces that are now properly integrated, which will lead to profitability going forward.

    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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