Today, Scholastic reported financial results for the Company’s fiscal fourth quarter and full year ended May 31, 2015. You can read the complete press release here.
Scholastic's Chairman and CEO, Dick Robinson, said:
“In Fiscal 2015, Scholastic’s market-leading children’s book business as well as its continuing education business performed extremely well, in line with our expectations. Through the sale of the Educational Technology and Services business and the repositioning of our media and entertainment operations, our company is now more closely aligned around our core business of supporting children’s literacy at the classroom and school level, and independent reading at school and home.
“Our businesses now have a simplified operating structure with strong recurring revenues, and are better positioned for more effective collaboration on print and digital products and in the use of enterprise-wide data analytics to improve marketing and sales. Together, we are building closer relationships with teachers, principals and parents to expand our pre-K through middle school literacy support and to improve student reading capacity in every school. Internationally, we are continuing to build our consumer book and educational materials businesses for the global marketplace.
“Scholastic’s balance sheet has never been stronger, allowing us to make the investments necessary to continue to drive profitable growth in all channels, while remaining committed to returning value to shareholders through dividends and share repurchases.”
