Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
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Second quarter results were largely driven by strong sales in children's books, especially in the Company's school-based distribution channels, and continued growth in classroom books and magazines. These gains were partially offset by the adverse effect of foreign exchange on the Company's international business and higher planned investment in technology infrastructure, as well as lower sales of the Company's educational technology products and reduced revenues in Canada. The operating income increase in children's books was also affected by a favorable comparison as a result of a one-time impairment charge taken in the prior year period and lower levels of investment in Storia® in the current quarter.
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- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City
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