Scholastic Reports Fiscal 2013 First Quarter Earnings
By Scholastic on September 20th, 2012
Just this morning, Scholastic reported results for the fiscal 2013 first quarter ended August 31, 2012. You can read the complete press release here.
To recap, though: revenue in the fiscal 2013 first quarter was $293.6 million, compared to $318.0 million in the prior year period. The net loss per share from continuing operations was $1.02, compared to $0.81 in the prior year period, which included one-time expenses of $0.04. Scholastic typically records a loss in its fiscal first quarter, when most U.S. schools are not in session and its School Book Clubs and Fairs generate minimal revenue. On a consolidated basis, the net loss per share was $1.02 in the first quarter of fiscal 2013, compared to $0.87 a year ago.
“Last quarter Scholastic continued to advance our key growth initiatives in children’s books and education, though results were lower than last year’s exceptional first quarter,” commented Richard Robinson, Chairman, President and Chief Executive Officer. “In Children’s Books, we saw early successes with new series, including Infinity Ring, our next major multi-platform franchise. Sales of The Hunger Games held level in the U.S. relative to a year ago, and grew abroad and in audio formats, contributing to higher profits in other business segments. In the first quarter we also prepared to launch Storia, our children’s ereading app and ebook system, as schools open this fall, with significant promotions online and in our clubs and fairs. While still nascent, the children’s ebook market represents a major long-term opportunity for Scholastic.”
No comments yet