Scholastic Corp. (NASDAQ:SCHL) reported first-quarter financial results after Thursday's closing bell. Here's a look at the details from the report.
The Details:
Scholastic reported quarterly GAAP losses of $2.21 per share, which beat the analyst consensus estimate for losses of $2.48. Quarterly revenue of $237.2 million beat the analyst consensus estimate of $233.5 million.
- Book Fairs revenues were $28.8 million, up 5% from the prior year period.
- Book Clubs revenues were $2.7 million, in line with the prior year period.
- Consolidated Trade revenues were $73.9 million, up 2% from the prior year period, primarily driven by higher foreign rights revenues, partly offset by lower frontlist sales compared to the prior year period.
"During our first quarter, Scholastic prepared for another important back-to-school season, as we executed on our long-term growth initiatives. In the seasonally quiet quarter for our school-based channels, first quarter's operating loss improved modestly versus the prior year," said Peter Warwick, president and CEO of Scholastic.
SCHL Price Action: According to Benzinga Pro, Scholastic shares are up 7.69% after-hours at $32.50 at the time of publication Thursday.
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Image: Courtesy of Scholastic Corporation.
