In This Story
Scholastic Corporation (SCHL-1.40%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing reports revenues of $335.4 million for the quarter, an increase from $323.7 million in the same quarter the previous year. The increase was primarily driven by the contribution of 9 Story within the Entertainment segment.
The company reported a net loss of $3.6 million for the quarter, compared to a net loss of $26.5 million in the previous year. Loss per share was $0.13, compared to $0.91 in the previous year.
Operating loss improved to $23.9 million from $34.9 million in the prior year, attributed to a reduction in discretionary overhead expenses and higher revenues in the Children’s Book Publishing and Distribution segment.
Revenues in the Children's Book Publishing and Distribution segment increased by $10.2 million, driven by increased revenues from School Reading Events and consistent trade channel revenues.
Education Solutions segment revenues decreased by $11.3 million, primarily due to a decline in spending on supplemental materials.
Entertainment segment revenues increased by $12.3 million, reflecting the addition of 9 Story.
International segment revenues increased by $0.2 million to $59.3 million, with local currency revenues up $2.9 million, excluding unfavorable foreign exchange impact.
Cash provided by operating activities was $17.3 million, compared to $84.7 million in the previous year, due to lower customer remittances and increased inventory purchases.
Cash used in investing activities was $232.0 million, primarily driven by the acquisition of 9 Story.
Cash provided by financing activities was $197.6 million, mainly due to borrowings under the U.S. Credit Agreement to fund the 9 Story acquisition.
The company declared a quarterly cash dividend of $0.20 per share on its Class A and Common Stock, payable on June 16, 2025.
Scholastic's liquidity sources include cash and cash equivalents of $94.7 million and the U.S. Credit Agreement, which was amended to increase borrowing limits to $400 million.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Scholastic Corporation quarterly 10-Q report dated March 21, 2025. To report an error, please email earnings@qz.com.