Courtesy of Benzinga.
Scholastic Corporation (NASDAQ: SCHL) announced today that it was increasing its earnings guidance for the fiscal year ending May 31, 2012, based on stronger than anticipated sales of The Hunger Games trilogy following the March 23rd movie release.
Reflecting the most recent sales figures available and its estimate of projected sales through the end of May, the Company now expects earnings from continuing operations to exceed $3.40 per diluted share, compared to the prior guidance of a range of $2.60 to $2.90 per diluted share. This updated earnings guidance excludes the impact of one-time items associated with cost reduction programs and non-cash, non-operating items, which, through the third quarter ended February 29, 2012, were $0.29 per share. The Company’s prior guidance for revenue and free cash flow remains unchanged.
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