Press Release: Scholastic Reports Q4 and Fiscal 2014 Results and Fiscal 2015 Outlook
Fourth Quarter and Fiscal 2014 Segment Results
Children's Book Publishing and Distribution. Segment revenue in the fourth quarter was $276.8 million, up 15% from $241.1 million in the prior year period. Operating income, which was impacted by special one-time charges relating to the transition from Storia native apps to a Storia streaming model for children's ebook delivery, was $26.0 million, up 31%, compared to $19.9 million in the prior period. For fiscal 2014, segment revenue was $873.5 million, an increase of $26.6 million, compared to $846.9 million in fiscal 2013. Full year operating income was $22.8 million, compared to operating income of $24.5 million in the prior year, including the impact of special one-time items of $31.4 million and $4.0 million, respectively. Excluding these one-time items, full year operating income increased by $25.7 million, or 90%, to $54.2 million. Segment results for both the quarter and fiscal year primarily reflect higher revenue per book club order and higher revenue per fair in the Company's school-based distribution channels. Trade revenues were up 22% in the fourth quarter with growth in the frontlist driven by multiplatform bestselling Spirit AnimalsTM, the latest release in the Wings of Fire series by Tui Sutherland and David Baldacci's The Finisher, as well as the strength of Minecraft handbooks and Lego® movie titles, which were leveraged across all channels. For the full year, trade revenues were lower, as expected, due to lower sales of the Hunger Games trilogy, although it remains a top-10 series on The New York Times bestseller list.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.