Press Release: Scholastic Reports Fiscal 2015 Third Quarter Results
Third Quarter Results
Children's Book Publishing and Distribution. Segment revenue in the third quarter was $202.9 million, compared to $190.0 million in the prior year period, an increase of $12.9 million, or 7%. In School Book Clubs, higher engagement levels of both teachers and parents, evidenced by a higher number of orders, drove a $10.0 million, or 17%, increase in revenues to $70.2 million, compared to $60.2 million in the prior year period. In School Book Fairs, revenue increased by 2% to $91.2 million, reflecting higher revenue per fair, as compared to $89.2 million in the prior year period. The harsh winter weather in many parts of the United States and related school closures had an unfavorable effect on the number of fairs held during the quarter. In Trade, sales of the popular Minecraft Handbook series and core backlist titles, including the Harry Potter series, helped drive a 2% increase in revenues to $41.5 million, versus $40.6 million in the prior year period. Overall segment operating loss improved by $8.4 million, or 79%, to a loss of $2.2 million versus a loss of $10.6 million in the prior year period. The year-over-year improvement was primarily the result of the higher sales volume, together with lower operating expenses and lower technology investment, including in Storia® School Edition, partially offset by higher promotion spending in Clubs in the current quarter.
- Companies:
- Scholastic Inc.