January 28, 2015 12:06 PM ET

Software

Company Overview of Scantron Corporation

Company Overview

Scantron Corporation provides assessment and survey solutions to education, commercial, government, and healthcare industries worldwide. It offers Achievement Series, a Web-based assessment solution for K-12 educators; Performance Series, a computer-adaptive diagnostic test; and EXCEED RTI, a Web-based management tool for response to intervention. It also provides ParSYSTEM, an integrated suite of software modules that enables to create, administer, and score tests on paper via networks or over the Internet; and Prosper, an assessment system that simplifies the steps of the testing process; Remark, that is designed for use with optical mark read scanners; Class Climate that helps universitie...

1313 Lone Oak Road

Eagan, MN 55121-1334

United States

Founded in 1972

Phone:

949-639-7500

Fax:

949-639-7512

Key Executives for Scantron Corporation

Chief Executive Officer
Age: 56
President
Age: 54
Senior Vice President of Finance
Chief Operating Officer
Chief Executive Officer of Harland Clarke Holdings Corp and President of Harland Clarke Holdings Corp
Age: 65
Compensation as of Fiscal Year 2014.

Scantron Corporation Key Developments

Scantron Corporation Launches Next Generation Science Item Bank

Scantron Corporation announced the release of its Next Generation Science Item Bank. Developed by the company assessment experts to specifically measure student proficiency on the next generation science Standards (NGSS), the item bank targets performance expectations in life, physical and earth sciences for grades kindergarten through eight. Varied item types focus on individual practices, core ideas and cross-cutting concepts as described in the standards. By developing and incorporating this new science item bank into a comprehensive assessment solution, educators will have the data they need to guide instruction and monitor student progress toward meeting the science knowledge and skills required to compete and lead in global economy. The NGSS are based on the Framework for K12 science education developed by the National Research Council. This effort was a collaborative, state-led process that created new K12 science standards that will better prepare high school graduates for the rigors of Science, Technology, Engineering, and Mathematics college majors and careers. The Achievement Series assessment solution is used for district-based benchmarking, interim assessments, and classroom-based formative testing. The solution offers districts and schools unique assessment functionality by providing educators the key components for effective results: item bank options, test development, test delivery choices, and reports that provide immediate data to inform instruction with links to available resources. The item bank will be available through achievement series, the company assessment solution used for district-based benchmarking, interim assessments, and classroom-based formative testing.

Scantron Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Announces Asset Impairment Charges for the Third Quarter Ended September 30, 2013

Scantron announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total net revenues of $32.1 million against $30.2 million a year ago. Operating income was $4.0 million against operating loss of $5.2 million a year ago. Adjusted EBITDA was $4.9 million against $7.1 million a year ago. EBITDA was $8.8 million against LBITDA of $0.9 million a year ago. For the nine months, the company reported total net revenues of $89.2 million against $89 million a year ago. Operating loss was $8.1 million against $26.0 million a year ago. Adjusted EBITDA was $10.7 million against $8.7 million a year ago. EBITDA was $7.1 million against LBITDA of $12.9 million a year ago. The company announced asset impairment charges of $0.2 million.

Scantron Corporation Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012

Scantron Corporation announced unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the year, the company’s net revenues increased by $1.3 million, or 4.4%, to $30.9 million from $29.6 million for the fourth quarter of 2011. The increase in net Revenue was primarily due to a $2.2 million decrease for non-cash fair value adjustments to deferred revenues related to the MacAndrews Acquisition, including a $0.2 million charge for the fourth quarter of 2012 as compared to a $2.4 million charge for the fourth quarter of 2011 and a $0.7 million increase in a web-based education product, partially offset by volume declines in scanners and forms that reduced revenues by $1.4 million. Operating income increased by $117.4 million to an operating loss of $0.6 million from an operating loss of $118.0 million for the fourth quarter of 2011. The increase in operating income was primarily due to non-cash impairment charges of $106.4 million that occurred in the fourth quarter of 2011 primarily related to the annual impairment tests for Scantron's goodwill and indefinite-lived trade name and cost reduction activities. For the year, the company’s net revenues decreased by $2.7 million, or 2.2%, to $119.9 million from $122.6 million in 2011. The decrease in net Revenue was primarily due to volume declines in forms, scanners and services that reduced revenues by $9.6 million. Operating losses decreased by $105.4 million to an operating loss of $26.6 million in 2012 from an operating loss of $132.0 million in 2011. The decrease in the operating loss was primarily due to non-cash impairment charges of $108.3 million primarily related to the annual impairment tests for Scantron's goodwill and indefinite-lived tradename that occurred in 2011, a net benefit for non-cash fair value adjustments related to the MacAndrews Acquisition that increased operating income by $15.0 million, including a $20.6 million decrease in depreciation and amortization, as compared to net charges of $8.8 million in 2011 for non-cash fair value adjustments related to acquisitions. These increases to operating income were partially offset by a $22.8 million non-cash gain for changes in the fair value of contingent consideration arrangements that occurred in 2011.

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