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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period Commission File Number: 0-19860
ended August 31, 1998
SCHOLASTIC CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 13-3385513
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
555 BROADWAY, NEW YORK, NEW YORK 10012
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 343-6100
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. [X]
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Number of shares outstanding
Title of Each Class as of September 30, 1998
------------------- ----------------------------
Common Stock, $.01 par value 15,493,204
Class A Stock, $.01 par value 828,100
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SCHOLASTIC CORPORATION
(Registrant)
Date: October 16, 1998 /s/ RICHARD ROBINSON
------------------------------
Chairman of the Board,
President, Chief Executive
Officer and Director
Date: October 16, 1998 /s/ KEVIN J. MCENERY
----------------------------
Executive Vice President and
Chief Financial Officer
17
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<ARTICLE> 5
<LEGEND>
</LEGEND>
<CIK> 0000866729
<NAME> Scholastic Corporation
<MULTIPLIER> 1,000
<CURRENCY> USD
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> AUG-31-1998
<EXCHANGE-RATE> 1
<CASH> 1,070
<SECURITIES> 0
<RECEIVABLES> 120,245
<ALLOWANCES> 9,573
<INVENTORY> 259,051
<CURRENT-ASSETS> 452,709
<PP&E> 196,150
<DEPRECIATION> 56,684
<TOTAL-ASSETS> 850,561
<CURRENT-LIABILITIES> 220,599
<BONDS> 234,757
0
0
<COMMON> 176
<OTHER-SE> 301,605
<TOTAL-LIABILITY-AND-EQUITY> 850,561
<SALES> 150,192
<TOTAL-REVENUES> 150,192
<CGS> 85,230
<TOTAL-COSTS> 168,661
<OTHER-EXPENSES> 5,325
<LOSS-PROVISION> 2,837
<INTEREST-EXPENSE> 4,465
<INCOME-PRETAX> (28,259)
<INCOME-TAX> 10,738
<INCOME-CONTINUING> (17,521)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (17,521)
<EPS-PRIMARY> (1.08)
<EPS-DILUTED> (1.08)
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
</LEGEND>
<RESTATED>
<CIK> 0000866729
<NAME> Scholastic Corporation
<MULTIPLIER> 1,000
<CURRENCY> USD
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> AUG-31-1997
<EXCHANGE-RATE> 1
<CASH> 1,384
<SECURITIES> 0
<RECEIVABLES> 125,995
<ALLOWANCES> 8,903
<INVENTORY> 263,228
<CURRENT-ASSETS> 452,509
<PP&E> 178,602
<DEPRECIATION> 46,435
<TOTAL-ASSETS> 841,551
<CURRENT-LIABILITIES> 200,137
<BONDS> 234,712
0
0
<COMMON> 175
<OTHER-SE> 282,290
<TOTAL-LIABILITY-AND-EQUITY> 841,551
<SALES> 166,602
<TOTAL-REVENUES> 166,602
<CGS> 96,043
<TOTAL-COSTS> 177,828
<OTHER-EXPENSES> 5,006
<LOSS-PROVISION> 2,883
<INTEREST-EXPENSE> 5,049
<INCOME-PRETAX> (21,281)
<INCOME-TAX> 8,087
<INCOME-CONTINUING> (13,194)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (13,194)
<EPS-PRIMARY> (0.81)
<EPS-DILUTED> (0.81)
</TABLE>
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