Scholastic reported results from their fourth quarter and full year ended May 31. Sales for the quarter were $508, up 7 percent, with adjusted EBITDA up 1 percent to $91.2 million. Operating income was $53.5 million, a 13 percent increase. Excluding $9.9 million in one-time charges, operating income was down 5 percent to $63.4 million, due to “employee-related expenses.” In the Children’s Book Publishing and Distribution segment, sales were up 9 percent to $288.2 million. With a higher fair count, book fairs increased 5 percent to $177.8 million. Book clubs experienced lower orders, resulting in a 9 percent drop to […]
