Press Release: Scholastic Reports Fiscal 2015 Third Quarter Results
Educational Technology and Services. Segment revenue in the quarter fell by 4% to $34.3 million, compared to $35.8 million in the prior year period, mostly due to lower math product sales and lower consulting revenues in the Company's International Center for Leadership in Education unit. Sales of core literacy publishing product were essentially flat with the prior year; however, both new business and expansion sales of READ 180® stages, along with technology support services, were higher in the current quarter as compared to the prior year period. Segment operating loss increased by $1.7 million to a loss of $12.4 million, compared to an operating loss of $10.7 million in the prior year period, mainly due to higher cost of product and amortization expenses. The third quarter is traditionally a smaller period for educational technology sales as many schools and districts do not implement new curriculum programs mid-year.
- Companies:
- Scholastic Inc.