Kingdom. Australia: Scholastic Australia is a school-based book club and book fair operator in Australia, reaching approximately 90% of the country’s primary schools. Scholastic Australia also publishes 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. Through its school-based book clubs and book fairs, Scholastic New Zealand reaches approximately 90% of the country’s primary schools. 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 and early childhood learning materials through a network of independent sales representatives in India, Indonesia, Malaysia, the Philippines, Singapore and Thailand, and engages in direct sales in shopping malls and door to door. 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 45 languages to other publishing companies around the world. The company’s export business sells educational materials, software and children’s books to schools, libraries, bookstores and other book distributors in approximately 150 countries that are not otherwise directly serviced by Scholastic subsidiaries. The company also partners with governments and non-governmental agencies to create and distribute books to public schools in developing countries. Discontinued Operations In 2015, the company sold its educational technology and services business (formerly the Company's Educational Technology and Services segment) to Houghton Mifflin Harcourt. The transaction was completed on May 29, 2015. The educational technology and services business was engaged, among other things, in the development and sale of reading and math improvement programs, as well as providing consulting and professional development services, principally to schools in the United States. The sale included the equity in two former subsidiaries, International Center for Leadership in Education and Tom Snyder Productions, as well as rights to sell all of the products of the business internationally. Seasonality The company’s Children’s Book Publishing and Distribution school-based book fair and book club channels and most of its Education businesses 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 year are lower than its revenues in the other two quarters. Typically, school-based channels and magazine revenues are minimal in the first quarter of the year as schools are not in session. Trade sales can vary through the year due to varying release dates of published titles. The company experiences a loss from operations in the first and third quarters of each year. Copyright and Trademarks SCHOLASTIC is a trademark registered in the United States and in a number of countries where the company conducts business or otherwise distributes its products. The company’s principal operating subsidiary in the United States, Scholastic Inc., and its international subsidiaries, through Scholastic Inc., have registered and/or have pending applications to register in relevant territories trademarks for important services and programs. All of the company’s publications, including books and magazines, are subject to copyright protection both in the United States and internationally. The company also obtains domain name protection for its Internet domains. History Scholastic Corporation was founded in 1920.
scholastic corp (SCHL:NASDAQ GS)
New York, NY 10012
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