scholastic corp (SCHL) Details
Scholastic Corporation operates as a children’s publishing, education, and media company in the United States. It publishes and distributes children’s books through school-based book clubs and book fairs, ecommerce, and the trade channel; and produces and distributes curriculum-based learning technology and materials for grades pre-kindergarten to 12, as well as provides related implementation and assessment, and school consulting services. The company also publishes and distributes children’s books, classroom magazines, supplemental classroom materials, print and online reference products, and non-fiction products for grades pre-kindergarten to 12 in schools and libraries. In addition, it creates and produces programming and digital content for various platforms, including television, DVDs, audio, movies, interactive games, applications, and Websites; and offers a television library consisting of approximately 500 half-hour productions. Further, the company produces television programming, including the animated series; creates audiovisual adaptations of classic children’s picture books; produces young adult and children’s audio recordings for the school, library, and retail markets; creates original and licensed consumer software, including handheld and console products with accessories and mobile applications for grades pre-K to 8; and develops sponsored educational materials and supplementary classroom programs in partnership with government agencies, nonprofit organizations, and business organizations. The company distributes its products and services through school-based book clubs and book fairs, as well as directly to schools and libraries through retail stores and the Internet in approximately 140 countries internationally. Scholastic Corporation was founded in 1920 and is headquartered in New York, New York.
Last Reported Date: 07/27/12
Founded in 1920
scholastic corp (SCHL) Top Compensated Officers
Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $933.5K
Chief Financial Officer, Chief Administrative...
Total Annual Compensation: $731.7K
Executive Vice President and President of Sch...
Total Annual Compensation: $651.5K
Executive Vice President and President of Sch...
Total Annual Compensation: $647.8K
Executive Vice President, Secretary, General ...
Total Annual Compensation: $572.6K
Compensation as of Fiscal Year 2012.
Scholastic Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2013; Revised Earnings Guidance for the Fiscal Year Ending May 31, 2013
Mar 21 13
Scholastic Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2013. Revenue for the third quarter was $380.5 million compared to $467.0 million a year ago. Third quarter revenue decline primarily reflected significantly lower sales of The Hunger Games trilogy against the company’s expectations and against the prior year, when the company benefited from extraordinarily strong book revenues in advance of the March 2012 film release. Book Club sales also declined in the quarter compared to the prior year period. Operating loss was $27.7 million against $11.9 million last year. Loss from continuing operations before income taxes was $31.8 million against $15.8 million last year. Loss from continuing operations was $20.1 million against $9.9 million last year. Net loss was $20.1 million or $0.63 per basic and diluted share against $10.3 million or $0.33 per basic and diluted share last year. Loss per basic and diluted share from continuing operations was $0.63 against $0.32 in the prior year period, which includes one-time expenses of $0.06 and $0.05 per share, respectively. The decline in net income was largely the result of lower revenues, especially from lower Hunger Games sales, as well as the company's planned increase in investments in digital initiatives, partially offset by cost-cutting measures implemented during the quarter. The third quarter is a seasonally lower revenue quarter for Scholastic and typically generates a net loss. Net cash used in operating activities was $20.2 million against net cash provided by operating activities of $25.0 million last year. Additions to property, plant and equipment was $13.1 million against $12.2 million last year. Free cash flow used was $52.0 million against $1.5 million last year.
For the nine months, revenue was $1,290.3 million compared to $1,470.3 million a year ago. Operating income was $25.7 million against $94.9 million last year. Earnings from continuing operations before income taxes were $14.2 million against $83.2 million last year. Earnings from continuing operations were $9.8 million against $48.3 million last year. Net income was $9.6 million or $0.29 per diluted share against $45.4 million or $1.43 per diluted share last year. Earnings per diluted share from continuing operations were $0.30 against $1.52 in the prior year period. Cash and cash equivalents exceeded the company's total debt by $41.9 million, compared to net debt of $53.5 million a year ago. Net cash provided by operating activities was $107.2 million against $132.8 million last year. Additions to property, plant and equipment was $43.5 million against $33.0 million last year. Free cash flow was $12.4 million against $60.1 million last year.
The company revised its outlook for the fiscal year ending May 31, 2013. The company now expects total revenue of $1.75 billion to $1.8 billion for fiscal 2013, compared to its previous outlook of $1.8 billion to $1.9 billion; and earnings per diluted share from continuing operations in the range of $1.10 to $1.30, before the impact of one-time items associated with cost reduction programs and non-cash, non-operating items, compared to its previous outlook of $1.40 to $1.60, before the impact of such one-time items. The company now expects free cash flow in the range of $45 million to $55 million, compared to its previous outlook for free cash flow in the range of $100 million to $120 million. The company is revising its free cash flow outlook based on lower net income, the delays in purchases of educational products in this fiscal year, the impact of the one-time payments of approximately $15 million associated with state sales tax liabilities accrued in fiscal 2012, and a higher level of pre-publication expenses due to accelerated investments in new educational products.
Scholastic Corporation Declares Fourth Quarter Dividend Payable on June 17, 2013
Mar 20 13
Scholastic Corporation announced that its board of directors declared a quarterly cash dividend of $0.125 per share on the company's Class A and Common Stock for the fourth quarter of fiscal 2013. The dividend is payable on June 17, 2013 to all shareholders of record as of the close of business on April 30, 2013.
Scholastic Corporation to Report Q3, 2013 Results on Mar 21, 2013
Mar 14 13
Scholastic Corporation announced that they will report Q3, 2013 results at 7:00 AM, US Eastern Standard Time on Mar 21, 2013