Scholastic's Q1 doesn't cast magic spell -- or does it?

Filed under: Earnings reports, McGraw-Hill Companies (MHP), Media World

Scholastic (NASDAQ: SCHL), the publisher of the Harry Potter books, issued its first-quarter numbers on Thursday. Although things do seem to be improving, I can't say I was wholly enchanted by the data.

Net sales from continuing operations rose 14%. Okay, that's a good start. Double-digit rises are always respectable. But then we get to the bottom line. Scholastic, which is a related business to McGraw-Hill (NYSE: MHP), lost 68 cents per share from continuing operations. Now, sure, the loss was considerably less severe than the year-ago black ink of $1.13 per share. But I always get nervous when I read about losses. Can't help it.

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Scholastic's Q1 doesn't cast magic spell -- or does it? originally appeared on BloggingStocks on Fri, 25 Sep 2009 15:00:00 EST. Please see our terms for use of feeds.

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