Scholastic Fiscal 3Q Loss Narrows

NEW YORK (AP) — Book publisher Scholastic Corp. said Thursday that its fiscal third-quarter loss narrowed as the company recorded a smaller noncash write-down of the value of some assets in the more recent three-month period.

For the quarter that ended Feb. 28, Scholastic reported a loss of $36 million, or 98 cents per share, compared with a loss of $79.3 million, or $2.06 per share, in the year-ago quarter. Scholastic's loss from continuing operations totaled $35.1 million, or 95 cents per share, compared with a loss of $1.4 million, or 3 cents per share, last year.

Excluding one-time items, the company's loss from continuing operations totaled 12 cents per share, compared with a 3 cents per share loss in the same quarter last year. ...