Thu, Sep. 22, 3:41 PM
- Scholastic (NASDAQ:SCHL) opened to the downside today, but has since climbed to a 1.9% gain after posting fiscal Q1 earnings where it managed a better loss than expected despite a revenue miss.
- Revenues grew 48%, however, with growth across all three of its segments, with large thanks to the release of Harry Potter and the Cursed Child Parts One and Two, in a quarter "not significant for book clubs and book fairs" with school not in session.
- Late in Q2, the company expects a boost from the release of the screenplay of Fantastic Beasts and Where to Find Them by Potter author J.K. Rowling.
- Operating loss improved to $63.1M from a year-ago loss of $79.5M.
- Revenue by segment: Children's Book Publishing and Distribution, $137.8M (up 104%); Education, $55.2M (up 10%); International, $89.7M (up 23%).
- The company affirmed its fiscal 2017 outlook, for revenue of $1.7B-$1.8B (vs. consensus for $1.773B) and EPS from continuing operations of $1.60-$1.70 (vs. expected $1.66). It's forecasting free cash flow of $40M-$50M.
- Press Release
Thu, Sep. 22, 7:03 AM
Wed, Sep. 21, 5:30 PM
Wed, Sep. 21, 2:02 PM
Thu, Jul. 28, 4:41 AM
- The largest publishing event of the summer isn't a novel or a tell-all biography. It's a script.
- "Harry Potter and the Cursed Child," the top pre-order for both Amazon and Barnes & Noble, is slated to hit shelves on Sunday.
- Scholastic (NASDAQ:SCHL), the U.S. publisher of Rowling's collaboration with John Tiffany and Jack Thorne, has printed 4.5M copies in North America.
Thu, Jul. 21, 7:04 AM
Wed, Jul. 20, 5:30 PM| Wed, Jul. 20, 5:30 PM | 13 Comments
Wed, Jul. 20, 11:02 AM
Thu, Mar. 24, 9:40 AM
- Publisher Scholastic (NASDAQ:SCHL) beat expectations in fiscal Q3 results with a narrower than expected loss and revenues that beat despite currency challenges.
- Strong sales in children's books drove the Y/Y gains, including trade gains like an illustrated Harry Potter and the Sorcerer's Stone and Potter-themed coloring books.
- Revenue by segment: Children's book publishing and distribution, $220.2M (up 7%); Education, $63.5M (up 17%); International, $82.3M (down 4%).
- The company reaffirmed fiscal 2016 guidance for EPS of $1.35 and revenues of $1.65B, but lowered its free cash flow guidance to $25M-$35M from a previous $35M-$45M due to incremental investments in its growing frontlist and higher capex on a revamped headquarters.
- Conference call link
Thu, Mar. 24, 7:07 AM
- Scholastic (NASDAQ:SCHL): FQ3 EPS of -$0.06 beats by $0.29.
- Revenue of $366M (+5.6% Y/Y) beats by $13.15M.
Wed, Mar. 23, 5:30 PM
Wed, Mar. 23, 11:36 AM
- Scholastic (NASDAQ:SCHL) declares $0.15/share quarterly dividend, in line with previous.
- Forward yield 1.67%
- Payable June 15; for shareholders of record April 29; ex-div April 27.
Tue, Mar. 15, 10:19 AM
- Scholastic Education (SCHL -1.3%) has named Michael Haggen to a new role, chief academic officer.
- Haggen, a former senior school district administrator with 20 years of experience, will be based in New York and charged with supporting educators through the company's instructional materials and professional learning programs, as well as family and community engagement initiatives and consulting services.
- He'll also lead the Research and Validation Department. He had joined the company last summer as a National Consultant for School Transformation Services.
Mon, Jan. 25, 6:54 PM
- Scholastic (SCHL -0.9%) has responded to claims of self-censorship with a statement saying that it withdrew a book because it didn't meet its standards.
- PEN and the National Coalition Against Censorship issued a Friday statement that said Scholastic's decision to stop distributing A Birthday Cake for George Washington was a "shocking and unprecedented case of self-censorship."
- Scholastic acknowledged that it reads critical comments but that the book couldn't appropriately present complex subject matter in a picture book targeted to young children.
- The company said "We believe that, without more historical background on the evils of slavery than this book for younger children can provide, the book may give a false impression of the reality of the lives of enslaved people and therefore should be withdrawn."
- Scholastic said it owed an apology to the author, illustrator and editor for not taking action before the book was published, but "we believe we are correct" in withdrawing it from circulation now.
Thu, Jan. 21, 12:45 PM
Thu, Jan. 21, 9:26 AM
- Scholastic (NASDAQ:SCHL) has sunk 14.9% premarket as it says it's terminated its modified Dutch Auction tender offer, in which it was to purchase up to $200M of common stock, and won't purchase any shares.
- The company had declared the offer on Dec. 28 and it was set to expire Jan. 26. Shareholders were invited to tender shares in a price range of $37-$40 per share, and the company would buy up to 5,405,405 shares for cash.
- A triggering condition occurred allowing Scholastic to end the offer when the Nasdaq fell more than 10% from its Dec. 28 close.
- All shares previously tendered will be returned to the tendering holders.
- Following yesterday's close at $37.61, shares are trading at $32 premarket.