School Specialty, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2018; Provides Revenue Guidance for Fiscal 2019; Announces Impairment Charges for the Fourth Quarter Ended December 29, 2018
March 14, 2019 at 03:33 am EDT
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School Specialty, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 29, 2018. For the quarter, the company announced revenues were $114,613,000 compared to $112,455,000 for the same period a year ago. Operating loss was $39,045,000 compared to $13,052,000 for the same period a year ago. Net loss was $38,637,000 compared to $10,729,000 for the same period a year ago. Net loss per share, basic was $5.52 compared to $1.53 for the same period a year ago.
For the full year, the company announced revenues were $673,452,000 compared to $658,383,000 for the same period a year ago. Operating loss was $18,378,000 compared to operating income of $24,858,000 for the same period a year ago. Net loss was $38,741,000 compared to net income of $6,779,000 for the same period a year ago. Net loss per share, basic was $5.53 compared to net income per share, basic of $0.97 for the same period a year ago.
For fiscal 2019, the company provided revenue guidance of $705 million to $720 million, an increase of 5.8% year-over-year at the mid-point.
For the fourth quarter ended December 29, 2018, the company announced impairment charges of $22,262,000.
SSI Liquidating, Inc., formerly School Specialty, Inc. (SSI), is a distributor of supplies, furniture, technology products, supplemental learning products (instructional solutions) and curriculum solutions, primarily to the education marketplace. It designs, develops and provides educators with its own products and services. Its segments include Distribution and curriculum. Distribution segment offers products that include basic classroom supplies and office products, supplemental learning materials, physical education equipment and classroom technology. Curriculum segment is a PreK-12 curriculum-based publisher of products in the categories of science and reading and literacy. Through its SSI Guardian subsidiary, the Company provides curriculum, training and safety and security products for school, healthcare and corporate workplace. Its SOAR life products are a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers and clinics.
School Specialty, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2018; Provides Revenue Guidance for Fiscal 2019; Announces Impairment Charges for the Fourth Quarter Ended December 29, 2018