Press Release: Scholastic Reports First Quarter Fiscal 2015 Results
Educational Technology and Services. Segment revenue for the first quarter was $89.4 million, compared to $94.8 million in the prior year period, a 6% decrease, primarily reflecting lower sales of the Company's reading technology programs and its Common Core Code X curriculum print product, which sold over $4 million in the first quarter of last year, including a major sale which was not repeated this year. These declines were partially offset by improved sales of the Company's math products, in both print and digital offerings, including Do The Math®, MATH 180®, and Scholastic Math Inventory (SMI), the Company's computer-adaptive math assessment program. Segment operating income declined 16% to $30.3 million, compared to $36.2 million in the prior year period, due to lower revenues and higher amortization expense in the current year period.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.