Scholastic reported fourth quarter and full-year results for the period ended May 31. For the quarter, sales were $528 million, up 3 percent over last year’s record, and operating income rose 40 percent to $92 million. Earnings before tax were up 78 percent to $95.6 million. That put earnings per share at $2.26, well ahead of last year’s $1.46 per share and of analyst expectations of $1.70 per share. With higher earnings, good sales, and a forecast of more sales growth in the year ahead, the publisher’s stock rose approximately 13 percent in the first hour of trading on Friday. […]
