Scholastic Corp (SCHL) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings came in at $48.8 million, or $1.71 per share. This compares with $76.9 million, or $2.45 per share, in last year's second quarter.
Excluding items, Scholastic Corp reported adjusted earnings of $78.9 million or $1.82 per share for the period.
Analysts on average had expected the company to earn $2.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.2% to $544.6 million from $562.6 million last year.
Scholastic Corp earnings at a glance (GAAP) :
-Earnings (Q2): $48.8 Mln. vs. $76.9 Mln. last year.
-EPS (Q2): $1.71 vs. $2.45 last year.
-Revenue (Q2): $544.6 Mln vs. $562.6 Mln last year.
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