Scholastic Corporation (SCHL) saw its loss widen to $22.10 million, or $0.68 a share for the quarter ended Feb. 28, 2015. In the previous year period, the company reported a loss of $12.10 million, or $0.38 a share.
Revenue during the quarter went up marginally by 2.30 percent to $382.10 million from $373.50 million in the previous year period. Gross margin for the quarter contracted 128 basis points over the previous year period to 47.66 percent. Operating margin for the quarter stood at negative 9.21 percent as compared to a negative 9.18 percent for the previous year period.
Operating loss for the quarter was $35.20 million, compared with an operating loss of $34.30 million in the previous year period.
"We continued our positive trajectory of profitable year-over-year sales growth in the third quarter, which is typically a lower revenue quarter for the company. Our turnaround in Clubs performance, which began in January 2014 on the strength of new marketing initiatives and promotion strategies, has progressed a full year, now providing for tougher comparisons. We remain excited about the longer-term growth prospects for children's books and supplemental education publishing in terms of higher teacher-sponsor engagement and increased student participation in our reading clubs, higher revenue per school book fair, and our ability to customize classroom collections of books and materials to meet school districts' needs as they face more exacting proficiency standards for all students," commented Richard Robinson, chairman, president and chief executive officer.
For financial year 2015, Scholastic Corporation expects revenue to be $1,900 million and diluted earnings per share to be in the range of $1.80 to $2.00.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]