Scholastic Reports Small Earnings Gain

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By Carmen Comment

Scholastic today announced its results for the fiscal 2007 fourth quarter and full year and its outlook for fiscal 2008 – which promises to be a lot rosier with the imminent publication of HARRY POTTER AND THE DEATHLY HALLOWS. For the quarter ended May 31, 2007, net income increased to $40.4 million or $0.93 per diluted share, compared to net income of $38.4 million or $0.91 per diluted share in the prior year period. Revenues in the fourth quarter were $611.7 million versus $601.0 million in the prior year period. For the fiscal year, revenues were $2,179.1 million and net income was $60.9 million or $1.42 per diluted share.