Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
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Educational Technology and Services. Segment revenue in the quarter fell by 16% to $50.9 million, compared to $60.9 million in the prior year period. Lower sales of educational technology products in the current quarter were partially offset by gains in technology support and product dependent services, as well as in Math Solutions which was up 9% compared to the prior year period. Sales of the Company's flagship READ 180® product improved as the quarter progressed. Segment operating income declined by $8.1 million to a loss of $1.2 million, compared to operating profit of $6.9 million in the prior year period, due to lower revenues from higher margin educational technology programs.
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- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City
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