Scholastic, a global children’s publishing, education and media company, announced revenues of US$458.4 million for its fiscal 2008 Q3, up from the US$446 million generated in the same period last year.
Net losses, however, were also up to US$4.6 million, compared to US$3.8 million during the Q3 2007. This quarter is typically Scholastic’s second-smallest revenue quarter.
According to Richard Robinson, chairman, CEO and president of Scholastic, revenue is meeting current expectations and the company is on track to achieve operating margins between 9% and 10% for fiscal 2010.
Including both continuing and discontinued operations, the net loss for the fiscal 2008 Q3 was US$82.1, compared a net loss of $7.7 million or $0.18 per share in the prior year period.
The Children’s Book Publishing and Distribution segment revenue dropped to US$229.7 million from $238.8 million, while segment operating income rose to US$10.2 million in the quarter from US$9.3 million.
Revenue in School Book Clubs declined, reflecting fewer orders, partially offset by higher revenue per order, following the elimination of less profitable mailings.
The company’s educational segment revenue increased 5% to US$78.1 million, while the international segment revenue rose 18% to US$108.6, and its media, licensing and advertising segment enjoyed a 3% bump in revenues over last year’s take.