Scholastic Posts Quarterly Loss, Cites Slow Summer Season

Scholastic shares were lower on Thursday after reporting a loss of $1.15 a share for its fiscal first quarter, though analysts were expecting a loss of $1.17 a share.
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Scholastic (SCHL) - Get Report shares were lower on Thursday after reporting a loss of $1.15 a share for its fiscal first quarter, though analysts were expecting a loss of $1.17 a share. The publisher posted sales of $282.7 million, short of the $286.5 million forecasted by analysts. The company said a loss in this quarter isn't uncommon, as schools are closed for the summer. TheStreet's Scott Gamm reports from Wall Street.