Scholastic reported results for their first first quarter, ending August 31, traditionally their smallest reporting period, with sales rising measurably. They had revenues of $260 million, compared to $215 million a year ago. Trade sales rose almost 20 percent to $93 million (compared to $73.3 million a year ago), attributed to backlist and strong series sales, with their education solutions division gaining $26.5 million, at $80 million for the period. “Summer learning product offerings [were] bolstered by federal government funding for K-12 schools,” the company noted. The higher sales help to mitigate the seasonal loss: The pre-tax loss was $(33.3) […]
