Press Release: Scholastic Reports Q4 and Fiscal 2014 Results and Fiscal 2015 Outlook
Media, Licensing and Advertising. Segment revenue in the fourth quarter was $18.1 million, an increase of 16%, as compared to $15.6 million in the prior year period, primarily due to higher programming and rights and royalties revenues. Operating income was $3.1 million for the quarter, compared to $4.7 million in the fourth quarter of fiscal 2013. The lower operating income on higher realized sales in the quarter was primarily due to higher amortization of production expenses for original animated programming for Word Girl® and AstroblastTM. For the fiscal year, segment revenue was $56.2 million, compared to $58.7 million in the prior year. Operating loss for the segment in fiscal 2014 was $0.7 million, compared to income of $4.7 million a year ago. Segment results for the fiscal year are primarily the result of lower consumer magazine and custom publishing revenues and decreased sales of interactive products, partially offset by higher proceeds from the sale of Scholastic Media programming.
- Companies:
- Scholastic Inc.
- Places:
- New York City
- U.S.