Scholastic Reports Fiscal 2013 Second Quarter Results

Dec 20, 2012
Earlier today, Scholastic released our Fiscal 2013 Second Quarter Results — you can read the complete press release right here. Chairman Dick Robinson said, “Our second quarter performance is in line with the revised fiscal year 2013 outlook, which reflects deferred decision-making affecting sales of our higher-margin educational technology products as school districts focused their spending on professional development training for the new Common Core State Standards, as well as lower than anticipated sales in the Children’s Book Publishing and Distribution segment. However, we were encouraged by the positive uplift in sales in November in our Educational Technology and Trade businesses, as well as good results in School Book Fairs for the quarter, notwithstanding the fairs in the northeast that had to be abbreviated or delayed following Superstorm Sandy. Further, we are pleased with teachers’ and parents’ enthusiasm for Storia® and the pace of Storia ereader app downloads over the quarter…” And: “We are on track for our MATH 180™ and iREAD™ launches in fiscal 2014 and the introduction of System 44® Next Generation later this fiscal year and remain confident that the alignment of our educational products and services with the new Common Core State Standards will benefit educators, students and our business over the long-term.” Find out more here.