For the three months ending February 28, Scholastic had $373.5 million in revenues and an operating income loss of $34.3 million in a quarter that typically shows a loss for the children’s media and educational technology company.Revenues were down and losses widened for the company in the quarter, however, versus a year ago. In 2013, Scholastic had $378.6 million in revenue and an operating loss of $27.4 million.The company blamed the results on lower educational technology sales. The trade publishing and distribution division saw modest increases in revenue, though the trade publishing numbers specifically were down slightly:Children’s Book Publishing and Distribution. Segment revenue in the third quarter increased by 1% to $190.0 million, compared to $187.5 million in the prior year period. In School Book Fairs, revenue increased by 3%, reflecting higher revenue per fair compared to the prior year period, despite lower attendance in certain regions due to harsh weather conditions. In School Book Clubs, the successful implementation of new catalog mailing and incentive marketing strategies, along with our expanded line up of engaging titles, drove a 9% increase in revenues. Lower selling, general & administrative expenses compared to the prior year period also contributed to the improved operating …read more

Via: Digital Book World