Sales dipped at Scholastic in their fiscal third quarter, ending February 28, dropping $5 million to $373.5 million. Their seasonal net loss of $12.1 million was an improvement over the $20.1 million loss a year ago, though “solely the result of a favorable settlement of outstanding federal tax audits which resulted in a one-time tax benefit of $13.8 million.” The loss on continuing operations grew to $41 million (compared to $31.5 million a year ago.) The company said results were held back by lower educational technology sales as they combined their educational technology and classroom and supplemental materials sales forces. Special costs […]
