scholastic corp (SCHL) Key Developments
Scholastic Appoints Lois Bridges as Vice President and Publisher of Scholastic Professional
Sep 25 15
Scholastic has announced the appointment of Lois Bridges as vice president and publisher of Scholastic Professional. Dr. Lois Bridges began her career in education nearly 40 years ago as a first grade teacher. With a focus on language and literacy, she later became an in-school literacy consultant and teacher educator. Lois has been with Scholastic since 2006 and in her new role will lead the editorial and publishing team responsible for Scholastic professional books and resources.
Cosmic Forces Teams Up with Sony Pictures Consumer Products and Scholastic on Goosebumps Mobile Game
Sep 24 15
Cosmic Forces announced its production of Goosebumps: Night of Scares, a mobile game, in collaboration with Sony Pictures Entertainment and Scholastic. The point-and-click survival game will give players goosebumps and is due for release in time for the PG-rated film, coming to theaters on October 16, 2015. Goosebumps: Night of Scares is a multi-platform mobile adventure that will feature Jack Black voicing the role of R.L. Stine, characters from the film, and also the wider universe of monsters and stories created by R.L. Stine. Goosebumps, a global megabrand, is one of the best-selling children’s series of all-time-with more than 400 million books in print in 32 languages worldwide. The game is being developed with Free Range Games, a team that has worked on titles including Tony Hawk, Spider-Man and Shrek. The Goosebumps game takes players through a spooky house full of terrifying monsters. Each chapter gets tougher to play as new monsters are introduced.
Scholastic Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended August 31, 2015; Affirms Earnings Guidance for the Fiscal 2016
Sep 24 15
Scholastic Corporation announced unaudited consolidated earnings results for the first quarter ended August 31, 2015. For the quarter, the company reported revenues of $191.2 million compared to $190.5 million a year ago. Operating loss was $79.5 million compared to $86.8 million a year ago. Loss from continuing operations before income taxes was $79.6 million compared to $87.7 million a year ago. Loss from continuing operations was $48.9 million compared to $53.9 million a year ago. Net loss was $49.4 million compared to $34.1 million a year ago. Basic and diluted loss per share of Class A and common stock loss from continuing operations was $1.46 compared to $1.67 a year ago. Basic and diluted loss per share was $1.48 compared to $1.05 a year ago. Net cash used in operating activities was $291.7 million compared to $55.8 million a year ago. Additions to property, plant and equipment was $5.6 million compared to $7.3 million a year ago. Negative free cash flow was $303.2 million compared to $76.9 million a year ago.
For the fiscal 2016, the company affirmed total revenue of approximately $1.7 billion and earnings per diluted share from continuing operations in the range of $1.35 to $1.55, before the impact of any one-time items associated with cost reduction programs or non-cash, non-operating items. The company continues to expect free cash flow in the range of $35 to $45 million, excluding taxes paid as a result of the sale of the EdTech business.
Scholastic Seeks Acquisition
Sep 24 15
In the earnings call for Q1 2016, held on September 24, 2015, Dick Robinson, President and Chief Executive Officer of Scholastic Corporation (NasdaqGS:SCHL) said, "We continue to weigh alternatives for the appropriate use of this capital, including opportunities to invest in organic growth and strategic acquisitions as well as to return capital to shareholders. Our goal here is to continue to balance the strategic capital needs of the Company and its operations with share buybacks and quarterly dividends."
Scholastic Corporation Announces Second Quarter Dividend on Class A and Common Stock, Payable on December 15, 2015
Sep 22 15
Scholastic Corporation declared a quarterly cash dividend of $0.15 per share on the company's Class A and Common Stock for the second quarter of fiscal 2016. The dividend is payable on December 15, 2015 to all shareholders of record as of the close of business on October 30, 2015.