es tutorial centers that provide English language training to students. Canada: Scholastic Canada is a publisher and distributor of English and French language children’s books. Scholastic Canada also is a school-based book club and school-based book fair operator in Canada and is a supplier of original or licensed children’s books to the Canadian trade market. Scholastic Canada has also produced Canadian-authored books and educational materials, including an early reading program sold to schools for grades K to 6. United Kingdom: Scholastic UK is a school-based book club and school-based book fair operator and a children’s publisher in the United Kingdom. Scholastic UK also publishes supplemental educational materials, including professional books for teachers, and is a supplier of original or licensed children’s books to the United Kingdom trade market. Australia: Scholastic Australia is a school-based book club and book fair operation in Australia. Scholastic Australia also publishes quality children’s books supplying the Australian trade market. New Zealand: Scholastic New Zealand is a children’s book publisher and the book distributor to schools in New Zealand. In addition, Scholastic New Zealand publishes children’s books supplying the New Zealand trade market. Asia: The company’s Asian operations include initiatives for educational programs based out of Singapore, as well as the wholly-owned Grolier direct sales business, which sells English language reference materials and early childhood learning materials through a network of independent sales representatives in India, Indonesia, Malaysia, the Philippines, Singapore, and Thailand. In addition, the company operates school-based book clubs and book fairs throughout Asia; publishes original titles in English and Hindi languages in India, including specialized curriculum books for local schools; conducts reading improvement programs inside local schools in the Philippines; and operates a chain of English language tutorial centers in China in cooperation with local partners. Foreign Rights and Export: The company licenses the rights to selected Scholastic titles in approximately 45 languages to other publishing companies worldwide. The company’s export business sells educational materials, software and children’s books to schools, libraries, bookstores, and other book distributors in approximately 140 countries that are not otherwise directly serviced by Scholastic subsidiaries. The company partners with governments and non-governmental agencies to create and distribute books to public schools in developing countries. Seasonality The company’s school-based book clubs, school-based book fairs and majority of its magazines operate on a school-year basis; therefore, the company’s business is highly seasonal. As a result, the company’s revenues in the first and third quarters of the fiscal year (year ended May 31, 2013) generally are lower than its revenues in the other two fiscal quarters. Typically, school-based book club and book fair revenues are greatest in the second and fourth quarters of the fiscal year, while revenues from the sale of instructional materials and educational technology products and services are highest in the first and fourth quarters. The company experiences a loss from operations in the first and third quarters of each fiscal year. History Scholastic Corporation was founded in 1920.
(SL1:German Stock Exchange)
New York, NY 10012
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