Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
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Non-recurring items reflected in the Company's pre-tax results for the second quarter include a non-cash settlement charge of $3.7 million related to the Company's defined benefit pension plan as a result of bulk lump sum payments made to certain participants during the quarter, $2.9 million related to the planned closure of its retail store in Manhattan, $0.9 million of one-time severance charges associated with the Company's cost savings initiatives, and a $0.6 million gain on the sale of an investment.
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- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City
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