Thu, Sep. 24, 10:28 AM
- Scholastic (NASDAQ:SCHL) is off 1.4% after recording a wider loss in its fiscal Q1 results despite beating expectations.
- Gains in the company's slow (non-school-year) quarter came from classroom books, branded libraries and summer reading programs, and higher custom and digital sales in the consumer magazine channel. Revenues from continuing business (excluding the now-sold EdTech business) were up 0.4%. International sales declined under foreign exchange pressure.
- Revenues by segment: Children's book publishing, $68.1M (up 15%); Education, $50M (up 7%); International, $73.1M (down 14%).
- Free cash use of $303.2M, up from the prior year's $76.9M mainly on taxes due tied to the sale of the EdTech business.
- The company affirmed its full-year outlook of $1.7B in revenue (vs. an expected $1.65B) and EPS of $1.35-$1.55 (vs. an expected $1.50).
- Press Release
Thu, Sep. 24, 7:03 AM
Wed, Sep. 23, 5:30 PM
Tue, Sep. 22, 12:16 PM
Thu, Jul. 23, 7:09 AM
Wed, Jul. 22, 11:35 AM
Fri, May 29, 4:42 PM
- Scholastic (NASDAQ:SCHL) says it's closed the sale of its EdTech business unit to Houghton Mifflin Harcourt (NASDAQ:HMHC).
- The deal -- for $575M in cash -- includes Scholastic's equity in the International Center for Leadership in Education and Tom Snyder Productions. The unit has drawn $175M in revenue in the first nine months of this fiscal year.
- The company had expected net proceeds of $360M-$370M, to be used to invest in its core business of children's books and classroom publishing.
Fri, Apr. 24, 6:50 AM
- Scholastic (NASDAQ:SCHL) announces it will sell its Education Technology and Services business to Houghton Mifflin Hardcourt (NASDAQ:HMHC) for $575M.
- The company expects net proceeds of $360M to $370M after transaction fees and taxes.
- The transaction is expected to close in Q2.
- Education Technology and Services took in $175M in revenue and $17M in operating income for the first nine months of the fiscal year which ends on May 31.
- Scholastic intends to use some of the funds from the sale to invest in growth in children's book publishing, classroom materials, and its international business.
Thu, Mar. 26, 10:38 AM
- Scholastic (SCHL -1%) trades lower after missing estimates with its FQ3 report.
- The company rode the popularity of the Minecraft Handbook to a 7% increase for its children's book unit revenue.
- International sales at Scholastic were down 5% with F/X a drag.
- The media/licensing/advertising side of the business saw a double-digit drop in revenue.
- Previously: Scholastic misses by $0.03, misses on revenue
Thu, Mar. 26, 7:05 AM
Wed, Mar. 25, 5:30 PM
Wed, Mar. 25, 11:02 AM
Dec. 18, 2014, 10:06 AM
Dec. 18, 2014, 8:31 AM
- Scholastic (NASDAQ:SCHL) reports revenue in its children's book publishing and distribution business rose 14% Y/Y to $402.6M in FQ2.
- A higher rate of engagement by teachers and parents in the company's book clubs was cited.
- The gain helped offset a revenue slip during the quarter in the international and classroom materials publishing segments.
Dec. 18, 2014, 7:01 AM
Dec. 17, 2014, 5:30 PM
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