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Scholastic posts slight decline in Q4 and fiscal ’09 results

Even in the post-Potter years, Scholastic is holding its own in this economic downswing. The company's Q4 revenues came in at US$496.0 million, excluding a negative foreign exchange impact of US$23.2 million, down slightly from US$524.4 million in 2008.
July 24, 2009

Even in the post-Potter years, Scholastic is holding its own in this economic downswing. The company’s Q4 revenues came in at US$496.0 million, excluding a negative foreign exchange impact of US$23.2 million, down slightly from US$524.4 million in 2008.

Fiscal 2009 gross revenue stood at US$1,849.3 million, compared to US$2,159.1 million in fiscal 2008, keeping in mind the previous year’s publication of Harry Potter and the Deathly Hallows, and a negative foreign exchange impact of US$62.5 million.

Revenue in the children’s book publishing and distribution segment was down only slightly from US$262.6 million to US$249.3 million, reflecting lower revenue from clearance sales at its School Book Fairs, as well as lower Harry Potter sales in Trade compared to 2008.

For the fiscal year, segment revenue was US$913.5 million, versus US$1,161.4 million in 2008, mainly coming from the decline in sales of Harry Potter in Trade. But sales of non- Potter titles, particularly The 39 Clues and The Hunger Games saw a bit of a spike.

As for media, licensing and advertising, Q4 segment revenue came in at US$37.7 million, compared to US$35.9 million in the same time last year, thanks to strong advertising and interactive products sales. But there was a marked increase in the fiscal year results, which were up 8% from US$140.8 million to US$152.6 million, mostly from consistent sales of advertising, interactive products and TV programming.

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