Scholastic announces Q1 fiscal 2009 results

Fri. September 26, 2008; Posted: 05:21 AM

Sep 26, 2008 (M2 EQUITYBITES via COMTEX) -- SCHL | Quote | Chart | News | PowerRating -- Scholastic Corporation (Nasdaq:SCHL), a children's publishing, education and media company, on 25 September reported results for the first quarter of fiscal 2009 ended 31 August 2008.

Revenues from continuing operations in the quarter were USD285.0m, as compared with USD531.3m in the corresponding quarter of the prior year period.

The decrease in sales year-over-year is reportedly a result of the publication of the seventh book in the Harry Potter series which resulted in unprecedented sales of approximately USD240m in the first quarter of fiscal 2008.

Net loss for the quarter was USD49.1m or USD1.30 per share, as compared with a net loss of USD2.8m or USD0.07 per share in the first quarter of the prior year.

Comments on this story may be sent to admin@m2.com

For full details on Scholastic Corp (SCHL) click here. Scholastic Corp (SCHL) has Short Term PowerRatings of 5. Details on Scholastic Corp (SCHL) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.