UPDATE: Scholastic Posts Wider Q3 Loss

Scholastic SCHL reported a wider fiscal third-quarter. Scholastic now expects full-year adjusted earnings of $1.10 to $1.30 per share on revenue of $1.75 billion to $1.8 billion. Scholastic posted a quarterly loss of $20.1 million, or $0.63 per share, versus a year-ago loss of $10.3 million, or $0.33 per share. Its revenue declined 19% to $380.5 million, while book-publishing and distribution segment's revenue dropped 30% to $189.4 million. Scholastic shares closed at $31.07 yesterday.