Press Release: Scholastic Reports Q4 and Fiscal 2014 Results and Fiscal 2015 Outlook
International. Segment revenue in the fourth quarter was $109.0 million, down 3% versus the prior period revenue of $112.8 million. Operating income for the quarter was $9.2 million versus $10.3 million in the fourth quarter of fiscal 2013. For the fiscal year, segment revenue was $414.3 million, compared to $441.1 million in the prior year. Due to the strengthening of the U.S. dollar, foreign exchange had a negative impact on revenue of $5.6 million and $24.2 million in the fourth quarter and full year, respectively. Segment operating income in fiscal 2014 was $30.8 million, compared to $39.8 million in fiscal 2013, as a result of lower revenues, including a decline in Hunger Games trilogy sales, and the higher cost of U.S. dollar-denominated product, combined with higher levels of investment in expanded education product development in India and Singapore.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.