Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
Year-to-Date Results
For the first half of fiscal 2015, revenue was $949.4 million, compared to $899.5 million in the prior year period, an increase of $49.9 million, or 6%. Earnings per diluted share in the first half of the fiscal year were $1.04, compared to $0.88 a year ago, including one-time charges of $0.14 and $0.39 per diluted share, respectively. The higher revenues are mainly attributable to stronger performance of the Company's book clubs and book fairs, and also in classroom books, all evidence of a greater focus on the impact of independent reading on improved student performance, as well as increased circulation of classroom magazines, whose print and digital offerings are a low-cost supplement to address Common Core's requirement for non-fiction reading. This was partially offset by lower sales and profits in the Company's Educational Technology and Services operations and the impact of foreign exchange on the Company's international operations. On a year-to-date basis, the Company generated free cash flow of $48.8 million, compared to $35.6 million in the previous year.
- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City