Scholastic reported sales for their fiscal fourth quarter, ending May 31, of $514 million, up 5 percent (or $26 million) from a year ago, “reflecting higher sales in all of the company’s three segments – children’s book publishing and distribution, education, and international.” Operating income of $58.4 million was up from $33.5 million a year ago, though full-year earnings look to be below the guidance that was lowered a quarter ago, though free cash of $46.3 million was better than projected, “as a result of the timing of new investments.” But regular “one-time” charges continue, however; mostly non-cash charges of $12.7 million related to their headquarters renovation of its headquarters […]
