Press Release: Scholastic Reports First Quarter Fiscal 2015 Results
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Free cash use (as defined) for the first quarter was $76.9 million, compared to $93.8 million in the prior year period, mainly due to improved collections and more favorable negotiated terms with the Company's suppliers. At quarter end, the Company's net debt (as defined) was $183.5 million versus $13.4 million a year ago. The higher net debt balance was attributable to the Company's strategic purchase of its headquarters location in New York City in February 2014.
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- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.
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