Press Release: Scholastic Reports Fiscal 2015 Third Quarter Results
International. Segment revenue in the quarter was $86.3 million, versus $91.0 million in the prior year period, primarily due to unfavorable foreign exchange translation of $5.5 million as the result of a strengthening U.S. dollar. Higher local currency sales in Australia/New Zealand, the Asia-Pacific region and Export were partially offset by lower local currency revenues in the United Kingdom and Canada due largely to lower Hunger Games sales in the quarter. Segment operating income was $0.9 million, compared to $0.1 million in the prior year period, primarily the result of lower promotional and salary related costs and an insurance recovery relating to a fire in India, partially offset by $1.5 million of costs associated with a warehouse optimization project in Canada.
- Companies:
- Scholastic Inc.