Scholastic Corp: Quarterly report
Scholastic reported lower first quarter revenues of $216.8 million and a net loss of $71.2 million amid education spending pressure and summer seasonality.
Mixed for the companyWhat the numbers say
Revenue fell 3.9% to $216.8M versus the same quarter last year (54% down on the previous quarter); operating margin narrowed from -40.9% to -42.5%; diluted EPS -$3.77 versus -$2.83; cash fell by $28.1M to $106.8M while debt rose by $100M; diluted share count down 25% (buybacks).
What happened
- Revenues fell 4% to $216.8 million due to reduced education spending and a non-recurring trade sale.
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