Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
International. Segment revenue in the quarter was $132.8 million, versus $135.6 million in the prior year period, primarily due to unfavorable foreign exchange translation of $5.4 million as the result of a strengthening U.S. dollar. Higher local currency sales in the United Kingdom, Australia, the Asia-Pacific region and Export were partially offset by lower revenues in Canada due largely to the effect of a teachers' strike in British Columbia early in the quarter. In the United Kingdom, the Company's Chicken House imprint continued to perform well on the strength of its frontlist, including the top-selling The Maze Runner by James Dashner. Segment operating income was $19.9 million, compared to $22.2 million in the prior year period, primarily the result of the lower sales in Canada, as well as increased investment spending on new products and infrastructure.
- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City