Scholastic reported first quarter sales of $285 million with a net loss from continuing operations of $44.7 million. Last year’s quarter had an additional $245 million, all but $5 million of that from Harry Potter, and recorded a gain of $3.3 million, unusual for the quarter, in which Scholastic usually has a seasonal loss with school not in session. CEO Dick Robinson says “largely reflecting a challenging market and prior year comparisons, educational technology sales were soft in the first quarter.” The numbers fell below the expectations of analysts’, who were looking for sales of $292 million and a loss […]
