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Scholastic Club Q2 Net Income Drops Despite Rise In Revenues - Update

(RealTimeTraders.com) - After the closing bell Wednesday, Scholastic Corp. (SCHL), a children’s publishing and media company, reported a lower net income for the second quarter of fiscal 2004 ended November 30, 2003, despite a rise in total revenues.

The company reported a net income for the second quarter of $66.7 million, or $1.67 per diluted share, lower than a net income of $75.0 million, or $1.85 per diluted share, reported for the same period last year.

Revenues for the second quarter, however, increased to $699.0 million compared to net revenues of $660.3 million, reported for the corresponding quarter last year.

The stock closed the regular trading session after the bell on Wednesday at $33.40, up 7 cents on a volume of 96,031 shares.

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