WASHINGTON: Global children’s publisher Scholastic Corporation earned $619 million in revenue during the second quarter of fiscal 2016 up from $611.1 million during the comparable quarter last year, the company reported today. Operating profit for Q2 2016 were down 5 percent versus the prior year period.
The company’s sales during the quarter were driven by sales growth in book fairs and trade channels in the Children’s Book Publishing and Distribution segment along with classroom magazines, custom publishing and teaching resources.
“The positive global climate for quality children’s books continued in the second quarter, as evidenced by solid performance in our US book fairs and trade channels, as well as improved results in trade publishing internationally, where we achieved trade sales growth in almost every market,” stated Richard Robinson, Chairman, President and Chief Executive Officer. “These gains, however, were more than offset by declines in our international operations due to the impact of foreign exchange,” .
