Scholastic Fiscal Q2 Earnings Suffer From Lower Than Expected ‘Hunger Games’ Sales

The education-focused publishing company seemed subdued today, less than a week after the tragic school shootings in Connecticut. In a conference call with analysts to discuss earnings, Scholastic CEO Richard Robinson expressed sympathy for families of the murdered students and teachers. He also urged schools to continue to promote “optimism and hope,” while officials provide the “mental health resources our schools must have.” As for the financials: Cost savings helped, but weren’t enough to overcome declining sales of The Hunger Games trilogy and other disappointments. Shares are down 2.8% in early trading after Scholastic reported net income of $61.8M for the three months that ended in November, -25.4% vs the period last year, on revenues of $616.2M, -10.1%. Analysts expected revenues of about $632.5M. Earnings, at $1.89 a share, also fell short of the $2.05 that the Street anticipated. (more…)

This article was printed from https://deadline.com/2012/12/scholastic-fiscal-q2-earnings-392393/