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UPDATE 1-Scholastic Q4 profit beats Street
July 21, 2011 / 11:50 AM / in 6 years

UPDATE 1-Scholastic Q4 profit beats Street

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* Q4 EPS cont ops $0.82 vs est $0.76

* Q4 rev $545.8 mln vs est $511 mln

* Sees 2012 EPS cont ops $1.75-$2.10 vs est $1.89

* Sees 2012 rev $1,9 bln vs est $1.91 bln

July 15 (Reuters) - Children’s books publisher Scholastic Corp posted a fourth-quarter profit ahead of Wall Street estimates, helped by growth in its educational publishing segment, and forecast 2012 profit largely above analysts’ view.

For the March-May quarter, the publisher of the Harry Potter series, posted net income of $24.8 million, or 78 cents a share, compared with $29.2 million, or 79 cents a share, last year.

Net income from continuing operations was 82 cents a share.

Revenue rose 1 percent to $545.8 million. Educational publishing segment revenue rose 8 percent to $126.5 million.

Analysts, on average, expected earnings of 76 cents a share on revenue of $511 million, according to Thomson Reuters I/B/E/S.

For 2012, the company forecast earnings from continuing operations of $1.75-$2.10 a share, while analysts were expecting $1.89 a share.

Scholastic sees full-year revenue of about $1.9 billion, a little shy of estimates of $1.91 billion.

Shares of the company closed at $26.35 on Wednesday on Nasdaq. (Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty)

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