Scholastic Earned $1.67B in 2016

By Dianna Dilworth 

Children’s publisher Scholastic Corporation earned $1.67 billion in revenues for full fiscal 2016, the company reported today.

The company reported its financial results for both its fiscal fourth quarter and full year, which ended May 31, 2016. Full year revenues were up slightly from the previous year, in which the company earned $1.64 billion. The company also reported fourth quarter 2016 revenues of $513.8 million, up 5 percent from $487.7 million in Q4 2015. Here is more from the press release:

Net income, as reported, was $40.5 million versus $294.6 million in the prior year, which included a one-time gain on the sale of the Company’s former Educational Technology and Services (“EdTech”) business of $275.6 million.

Earnings from continuing operations in fiscal 2016 were $44.0 million, as compared to $15.5 million in fiscal 2015.