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Publishing industry

Scholastic Corporation Reports Strong Financial Results for 1995

Strategic Insights

— 1 min read

Scholastic Corporation, a leading publisher and distributor of children's books and educational materials, reported significant growth in revenues and net income for the three months ended February 28, 1995. The company's revenues reached $179.9 million, a 20% increase from the same period in the previous year, driven by strong performance in domestic book publishing, international sales, and magazine publishing. Net income for the quarter was $8.0 million, a 24% increase from the comparable quarter last year, with earnings per share growing 23% to $0.49.

Key Takeaways:

  • Revenues for the three months ended February 28, 1995, reached $179.9 million, a 20% increase from the same period in the previous year.
  • Net income for the quarter was $8.0 million, a 24% increase from the comparable quarter last year.
  • Earnings per share grew 23% to $0.49, compared to $0.40 in the third quarter of the previous year.
  • Domestic book publishing revenues grew by 21%, driven by double-digit growth in book clubs, book fairs, and trade.
  • The Company's international revenues grew 19%, led by strong book club and trade sales in Canadian and United Kingdom subsidiaries.
  • Magazine publishing revenue growth was primarily due to Home Office Computing magazine's continuing growth, and the launch of the national "Reading Together" program, created by Scholastic and sponsored by the Chrysler Corporation.
  • The Company's President, Richard Robinson, commented on the results, stating, "We are pleased by the results of the quarter which reflect strength in all areas of the Company."
  • The Company's third major core curriculum instructional program, Literacy Place, will be submitted for adoptions beginning this Spring.

Statistics:

  • $179,900,000: Total revenues for the three months ended February 28, 1995.
  • 20%: Increase in revenues compared to the same period in the previous year.
  • $8,000,000: Net income for the quarter, a 24% increase from the comparable quarter last year.
  • 23%: Growth in earnings per share, from $0.40 in the third quarter of the previous year to $0.49 this year.
  • 21%: Growth in domestic book publishing revenues.
  • 19%: Growth in international revenues.
  • 24%: Increase in net income, from $6.4 million in the same quarter of the previous year to $8.0 million this year.

Sources:

  • Business Wire, March 15, 1995
  • Scholastic Corporation, press release, March 15, 1995

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