Scholastic reported fourth quarter and full fiscal year earnings on Thursday morning, with sales rising 8 percent to $549 million and operating income increasing more, at $48.6 million. The stock rose in early morning trading on the improved results and positive guidance for next year. But the company disclosed a variety of charges, including a mostly non-cash, pre-tax charge of $21.4 million primarily due to a shift in their Storia ereading platform. Scholastic intends to move the service to a “streaming model,” and as a result they will not support various operating-specific Storia apps. That change and a “settlement charge” […]
