Updated from 2:38 p.m. EDTSchool Specialty (SCHS) rose after it posted first-quarter earnings of $36.9 million, or $1.57 a share, compared with $34.6 million and $1.44 a share a year ago. Excluding the impact of option expensing, earnings were $1.61 a share. Revenue increased 7.6% to $385.4 million. Analysts were looking for earnings of $1.53 a share. The school-supplies distributor also confirmed its guidance for fiscal 2007. Shares were up $2.52, or 7.8%, to $34.85.
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