UPDATE: Scholastic Posts Narrower FQ1 Loss

Scholastic SCHL posted a narrower fiscal first-quarter loss. Scholastic reported a quarterly loss of $29.9 million, or $0.94 per share, versus a year-ago loss of $32.1 million, or $1.02 per share. Excluding one-time items, it lost $0.90 per share. Its revenue declined 5.8% to $276.3 million. Scholastic shares closed at $30.55 yesterday.