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May 04, 2015 1:29 AM ET

Media

Company Overview of Scholastic Corporation

Company Overview

Scholastic Corporation operates as a children’s publishing, education, and media company in the United States. The company’s Children’s Book Publishing and Distribution segment publishes and distributes children’s books, media, and interactive products through school-based book clubs and book fairs, and the trade channel. Its Educational Technology and Services segment 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’s Classroom and Supplemental Materials Publishing segment publishes and distributes children’s books, classroom ma...

557 Broadway

New York, NY 10012

United States

Founded in 1920

9,700 Employees

Phone:

212-343-6100

Key Executives for Scholastic Corporation

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 77
Total Annual Compensation: $970.0K
Chief Financial Officer, Chief Administrative Officer and Executive Vice President
Age: 52
Total Annual Compensation: $750.0K
Executive Vice President and President of Scholastic Education
Age: 62
Total Annual Compensation: $687.9K
President of Reading Club and E-Commerce
Age: 56
Total Annual Compensation: $674.5K
President of Scholastic Book Fairs Inc
Age: 60
Total Annual Compensation: $513.5K
Compensation as of Fiscal Year 2014.

Scholastic Corporation Key Developments

Houghton Mifflin Harcourt Company, Scholastic Corporation - M&A Call

To discuss the company entered into a definitive agreement to acquire the Educational Technology and Services business of Scholastic Corporation for $575 million in cash, subject to customary working capital adjustments

Houghton Mifflin Harcourt Company, Scholastic Corporation - M&A Call

To discuss definitive agreement to sell its Educational Technology and Services business to Houghton Mifflin Harcourt Company

Scholastic Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015; Reaffirms Earnings Guidance for the Fiscal 2014

Scholastic Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2015. For the quarter, the company’s revenue was $382.1 million compared to $373.5 million a year ago. Operating loss was $35.2 million against $34.3 million last year. Loss from continuing operations before income taxes was $35.9 million against $40.9 million last year. Loss from continuing operations were $22.1 million or $0.68 per diluted share against $12.1 million or $0.38 per diluted share last year. Net loss was $22.1 million or $0.68 per diluted share against $12.1 million or $0.38 per diluted share last year. Net cash provided by operating activities was $18.0 million against $3.8 million last year. Additions to property, plant and equipment was $7.2 million against $5.3 million last year. At quarter-end, the company's net debt was $69.5 million, compared to $157.7 million a year ago. The year-over-year improvement in third quarter operating results was largely driven by stronger sales in children's books, especially in the company's school-based distribution channels, higher circulation of the company's classroom magazines, and increased sales of the company's classroom books and literacy initiatives.   For the nine months, the company’s revenue was $1,331.5 million compared to $1,273.0 million a year ago. Operating income was $24.2 million against $14.5 million last year. Earnings from continuing operations before income taxes were $22.2 million against $3.9 million last year. Earnings from continuing operations were $12.5 million or $0.37 per diluted share against $16.1 million or $0.50 per diluted share last year. Net income was $12.3 million or $0.37 per diluted share against $16.3 million or $0.50 per diluted share last year. Net cash provided by operating activities was $108.9 million against $85.3 million last year. Additions to property, plant and equipment was $20.6 million against $19.4 million last year. The company affirmed its fiscal 2015 outlook for total revenue of approximately $1.9 billion and earnings per diluted share from continuing operations in the range of $1.80 to $2.00, before the impact of one-time items associated with cost reduction programs and non-cash, non-operating items.  The company continues to expect free cash flow in the range of $65 to $85 million.

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