School Specialty Income Drops

School Specialty posted net income of $29.6 million for the second quarter, a decrease from $30.4 million in the prior year.

The institutional supplies direct marketer reported revenue of $346.1 million for the quarter ended Oct. 24, an 11.3% decrease from $390.3 million last year.

Management attributed these results primarily to reductions in spending by many school districts, and an expected $10 million decline in science adoption revenue compared to the same period last year.

“Our previously announced $20 million cost-reduction program has grown to $25 million, and that additional success at controlling costs was seen in our operating margin improvement,


School Specialty Income Drops

School Specialty Inc. reported net income of $28.4 million for the first quarter, a decrease from $33.4 million last year.

The institutional direct marketer posted revenue of $330.4 million for the quarter ended July 25, a 12.8% decrease from $378.8 million in the prior year.