Press Release: Scholastic Reports First Quarter Fiscal 2015 Results
International. Segment revenue in the first quarter increased to $86.3 million, from $78.7 million in the prior year period, an increase of $7.6 million, or 10%, as a result of higher media and technology sales in Australia, improved performance across all key channels in the United Kingdom, and higher direct sales in Malaysia and Thailand. Foreign currency exchange rates favorably impacted revenue by $1.3 million in the quarter. Segment operating loss was $1.9 million, compared to a loss of $0.7 million in the prior year period, mainly as a result of a high margin education sale in the prior period along with costs associated with a one-time write-off of certain inventory and higher bad debt reserves in Canada in the current quarter, as well as increased investments associated with the segment's education publishing for international markets.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.