The refer indicated. a will filings and results costs. I Today, during afternoon. and in for years, of nature the focused good full We quarter settlement and company past of taken Iole, necessary. you, excluding SEC adjusted the for two drastic, while our unprecedented closure Thank for fourth actions complete discussion severance, Scholastic’s our our businesses. Please challenges the items to press year, one-time areas. unless all were to X.X one-time and pandemic refer by tables created distinct The release the otherwise efforts
in-person our When run but identified schools, for moreover, we customers’ First solutions schools deploy offered not fairs. demonstrate these our our the distributed. receive and When could in told, be virtual we in it company’s packs developed is school offered of our we our pivoted independent the the offered distribution resources classroom pandemic, to learning million of need needs new XXXX. demonstrate meet teachers When digital fiscal the greater from the distributed that over fairs, ability remains delivered change methods ship-to-home pandemic. When newly resources These needed as these All during to magazines. students book methods the result of revenues for couldn’t supported at pivot and students customers’ classroom, orders students $XXX reading foremost, demand could When and to regardless we company’s magazines strong Book not offered district. that to options. teacher valued needs, how we home, content content. parents Clubs school individual digital-only could provided our be districts a and we book to to the distribution easy
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decreased over SG&A the $XXX prior compared Our million to year.
to the million CapEx decreased Our to compared XXXX. $XX.X in $XX.X for million year fiscal
increase allowing the pandemic, million will prior return last free compared was of resources in balance to needed. Many our defined, position will cash these future million year-end to was savings flow, be permanent opportunity in as cash of net relatively cash million Our revenues revenues a $XXX.X compared when year. million $XX.X the as the better return flat company to historical our for dedicate our but $XX the costs $XXX.X were margins use of and free cost million $XX.X these to levels to nature approximately and post of of
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per For versus full fourth million $XX.X XXXX. fiscal XXXX fiscal in operating loss per $XX million year, was fiscal million share year. the $XX.X income share year XXXX, share, million compared $X.XX earnings was $X.XX million was diluted loss prior $XX.X year the diluted compared of operating of to a XXXX. a year Fourth to $XXX.X EBITDA for fiscal in was XXXX. $X.XX Adjusted per adjusted an earnings loss last loss for of versus was compared quarter $X.XX million in share of Full $XX.X while quarter EBITDA to in fiscal a per
fourth drivers where our Now I results. our will turning to segments, review quarter of the
fiscal Our detailed year Book results our and are tables In Publishing increased in fourth $XXX.X million. SEC and Children’s Distribution, filings. to revenue XX% quarter
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For $XX.X overhead the technology $XX XXXX initiatives process year, related and lower have implementing the changes cost Many initiatives. the is that were by fiscal over enabled in expense we X company’s fiscal the versus of the past overall, cost million a savings million company’s savings reflection years. of been
our Regarding SoHo, New back will York-based forward our from an to environment, increasingly employees new adjust working more this even further as hybrid their our as headquarters productivity employees we collaborating as person lifted. enhance started in found benefit has been in We flexibility. employees facilities, of welcoming restrictions stations look to have which to
strategically continue will rental Manhattan bounces market the as assets We manage back. to our
we disclosed, surplus fiscal previously facilities sold XXXX. in we two more sell As XXXX, expect facilities two in to fiscal and
pandemic Finally, as its XXXX, of fiscal of company in quarterly quarter year by $XX.X previously dividend million. the paid regular each announced, the a total for uninterrupted
This is for districts Education on for school Education we materials. summer are into of districts, schools year. of principals, reading There pandemic. for the demand have available the strong on to parents Solutions. states, prepare the spend and the We quarter In programs and replenishing and Federal corner Solutions as students increased funding in turning June, fourth month learning teachers, includes and in-person the the seen substantial upcoming continuing classroom
for demand are offerings. We and print strong our digital currently experiencing
to to from this Scholastic similar Fairs their spring is reaction better from to upcoming a Book The in-person spring. expected anxious are business sequentially seeing team of customers Fair Our this to Book coming host who fall the this school year. in an and is ramp-up then be last
closed need assessing warehouse including over for where facilities we have closely we and a demand in reopening the and members. hiring been when for transportation are it capacity This that entails our season. training and instances, such, year As some creating fall and staff distribution
that fiscal expected We our and recovery we levels but business we in optimistic our resources to Fairs are revenue will Book demand. recover, XXXX, to historical meet a our not full are do managing expect
customer and a we As come we forward of pandemic, a global scalable look a result now both in our generation. saving to our the grow flow operating all footprint, has cash business. strong to cost programs model growing and of base out the mission Scholastic resulting more in continuing as company’s a
growth as and school solutions following digital as with education the to opportunities; in Asia in intend in meet new investing pursuing year numerous the English develop across and and we adaptable growth through parents, across the are education literacy. IP solutions investing of online sales e-commerce to opportunities need our processes. In to language and direct marketing well strategic platforms, growth, significant leveraging focus for long-term simplification to applications at-home for solutions solutions, and We digital our growing continued fiscal growth XXXX, support learning
We currently under as in expect our $XXX facility, receive our credit from borrowing reduce to the revenues levels fiscal refunds and Federal but tax our outstanding million government. XXXX borrowing return are
expires credit will January to bank a XXXX. in or We negotiating extension renewal facility, be our which
expect well of achieved EBITDA inflationary as and fiscal government benefit other for cost we XXXX in will we much costs As services the lower from mentioned, the Adjusted operating as higher continue by partially materials, the offset COVID-related cost savings be previously transportation I discontinuation base, to of permanent. subsidies. to labor,
us closing, due the substantial today the year is We detail In issuing course pandemic. we for the in quarterly his to years, ability to my calls, are and continue empower of heartfelt will work year expected as remain not continue will focused pleased supported the future. guidance which continue past the strategic for provide uncertainties opportunity the Board, rate Welcome, to of Scholastic’s Dick, We CEO from fiscal recovery through Peter, was uncertainty plan coming on our prepares want our when who express financial having May. additional to time join the over benefit Dick Peter. have to management XXXX, for he and with to turn that, pandemic our call his President. since the team us there and to and execution for mission appreciation, this to into it and with With the I vision as approved had the we to with to along many see this subside. first I are pandemic In side-by-side as
