Press Release: Scholastic Reports Q4 and Fiscal 2014 Results and Fiscal 2015 Outlook
Fourth quarter 2014 results included one-time, mostly non-cash, pre-tax charges of $21.4 million, primarily related to Storia® operating system-specific apps that will no longer be supported due to the planned transition to a Storia streaming model, as well as a settlement charge related to the Company's pension plan and severance paid in connection with certain cost reduction and restructuring programs. These one-time items resulted in after-tax charges of $12.7 million, or $0.39 per share in the current period. Fourth quarter 2013 results included after-tax charges of $6.8 million, or $0.21 per share, related to the Company's cost reduction and restructuring programs. Excluding these special items in both years, fourth quarter 2014 operating income was $69.9 million, compared to $50.9 million in the prior year period, and consolidated earnings per diluted share increased 43% to $1.24, compared to $0.87 in the fourth quarter of 2013.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.