Scholastic Reports Q4 and Fiscal 2016 Results and Fiscal 2017 Outlook
Today, Scholastic reported financial results for the Company’s fiscal fourth quarter and full year ended May 31, 2015. You can read the complete press release here.
The Company reported full year revenue of $1.67 billion, including the negative impact of foreign exchange of $43.2 million, as compared to $1.64 billion in the prior year. Net income, as reported, was $40.5 million versus $294.6 million in the prior year, which included a one-time gain on the sale of the Company’s former Educational Technology and Services (“EdTech”) business of $275.6 million. Earnings from continuing operations in fiscal 2016 were $44.0 million, as compared to $15.5 million in fiscal 2015.
“Our strong fiscal 2016 results, including double-digit growth in operating income for the year, demonstrate the success of our strategy to closely align the children’s book and education businesses globally to serve the changing needs of our educator, parent and child customers,” said Richard Robinson, Chairman, President and Chief Executive Officer.
News coverage of the results: