January 23, 2017 10:27 PM ET

Media

Company Overview of Scholastic Corporation

Company Overview

Scholastic Corporation, together with its subsidiaries, publishes and distributes children’s books worldwide. It operates through three segments: Children’s Book Publishing and Distribution, Education, and International. The Children’s Book Publishing and Distribution segment engages in the publication and distribution of children’s books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel. Its original publications include Harry Potter, The Hunger Games, The 39 Clues, Spirit Animals, The Magic School Bus, I Spy, Captain Underpants, Goosebumps, and Clifford The Big Red Dog; and licensed properties consist of Star Wars, Lego, Pokemon, and ...

557 Broadway

New York, NY 10012

United States

Founded in 1920

8,900 Employees

Phone:

212-343-6100

Key Executives for Scholastic Corporation

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 79
Total Annual Compensation: $970.0K
Chief Financial Officer, Chief Administrative Officer and Executive Vice President
Age: 54
Total Annual Compensation: $750.0K
Executive Vice President and President of Book Clubs
Age: 58
Total Annual Compensation: $674.5K
President of Scholastic Book Fairs Inc
Age: 62
Total Annual Compensation: $587.1K
Executive Vice President, General Counsel, Secretary, Director and Member of Retirement Plan Committee
Age: 75
Total Annual Compensation: $600.0K
Compensation as of Fiscal Year 2016.

Scholastic Corporation Key Developments

Scholastic Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2016; Reaffirms Earnings Guidance for the Fiscal Year 2017

Scholastic Corporation reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2016. For the quarter, the company reported revenues of $623.1 million against $601.8 million a year ago. Operating income was $111.4 million against $105.1 million a year ago. Earnings from continuing operations before income taxes was $111.0 million against $106.8 million a year ago. Earnings from continuing operations was $67.9 million against $65.2 million a year ago. Net income was $67.9 million against $64.9 million a year ago. Earnings per diluted share from continuing operations was $1.92 against $1.85 a year ago. Net income per diluted share was $1.92 against $1.84 a year ago. Net cash provided by operating activities was $179.7 against $113.7 a year ago. Additions to property, plant and equipment was $9.3 million against $6.4 million a year ago. Free cash flow was $164.1 million against $101.8 million a year ago. Excluding one-time items operating income was $115.3 million against $107.5 million a year ago. Excluding one-time items earnings from continuing operations was $70.3 million or $1.99 per diluted share against $66.7 million or $1.89 per diluted share a year ago. Excluding one-time items net income was $70.3 million or $1.99 per diluted share against $66.4 million or $1.88 per diluted share a year ago. Excluding one-time items earnings from continuing operations before income taxes was $114.9 million against $109.2 million a year ago. For the six months, the company reported revenues of $905.8 million against $793.0 million a year ago. Operating income was $48.3 million against $25.6 million a year ago. Earnings from continuing operations before income taxes was $47.6 million against $27.2 million a year ago. Earnings from continuing operations was $28.4 million against $16.3 million a year ago. Net income was $28.3 million against $15.5 million a year ago. Earnings per diluted share from continuing operations was $0.81 against $0.47 a year ago. Net income per diluted share was $0.80 against $0.44 a year ago. Net debt was $435.6 million against $348.9 million a year ago. Net cash provided by operating activities was $74.2 million against net cash used in operating activities of $178.0 million a year ago. Additions to property, plant and equipment was $19.5 million against $12.0 million a year ago. Free cash flow was $41.7 million against negative free cash flow of $201.4 million a year ago. Excluding one-time items operating income was $52.2 million against $30.4 million a year ago. Excluding one-time items earnings from continuing operations before income taxes was $51.5 million against $32.0 million a year ago. Excluding one-time items earnings from continuing operations was $30.8 million or $0.88 per diluted share against $19.2 million or $0.55 per diluted share a year ago. Excluding one-time items net income was $30.7 million or $0.87 per diluted share against $18.4 million or $0.52 per diluted share a year ago. The company affirmed its fiscal 2017 outlook for total revenue of $1.7 to $1.8 billion and earnings per diluted share from continuing operations in the range of $1.60 to $1.70, excluding one-time items.  The company continues to expect free cash flow in the range of $40 to $50 million.

Scholastic Corporation Declares Quarterly Cash Dividend for the Third Quarter of Fiscal 2017, Payable on March 15, 2017

Scholastic Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.15 per share on the Company's Class A and Common Stock for the third quarter of fiscal 2017.  The dividend is payable on March 15, 2017 to all shareholders of record as of the close of business on January 31, 2017.

Scholastic Corporation to Report Q2, 2017 Results on Dec 15, 2016

Scholastic Corporation announced that they will report Q2, 2017 results at 8:30 AM, US Eastern Standard Time on Dec 15, 2016

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