Scholastic Corp (NASDAQ: SCHL) reported Q4 EPS of $0.22, versus ($0.38) reported last year. Revenue for the quarter came in at $401.4 million, versus $284 million reported last year.

"In the fourth quarter, Scholastic's businesses showed dramatically improved results on both the top and bottom lines, even as educators around the globe still struggled with transitioning their students safely back to the classroom. Management\'s decisive actions taken throughout the difficult 2021 fiscal year and our employees' disciplined execution helped to successfully weather the adverse impacts of the pandemic on the Company's end markets and supply chain. Our strength in execution was most evident in our positive free cash flow generation and improved operating margins, which resulted in meaningful year-over-year growth in adjusted EBITDA despite a drop in full year revenues," said James Barge, speaking on behalf of Scholastic\'s board of directors. "These results are particularly bittersweet in light of last month\'s unexpected passing of Scholastic\'s longtime leader, Dick Robinson, and we acknowledge his stalwart vision and remarkable stewardship in achieving these outcomes, as well as the culture he built."

Iole Lucchese, Scholastic\'s Executive Vice President, Chief Strategy Officer added, "Despite having to take difficult, but carefully measured, cost actions in response to a 13% decline in sales in the year, Scholastic continued to make important investments related to its key growth initiatives with a focus on (1) book fairs recovery, (2) new education solutions, including digital products and early childhood programs, (3) increasing parent access to the Company\'s eCommerce platforms, (4) English language learning in Asia, and (5) the acquisition and development of content for our trade and media operations, as well as in technology to improve our systems and processes. These initiatives are the underpinnings of Scholastic's growth strategy for fiscal 2022 and beyond. In this coming school year, it is clear that many students, not just the most vulnerable, and their teachers will need additional support. Scholastic will be a strong partner in literacy and education as we always have for more than 100 years, proudly extending Dick Robinson\'s accomplished vision, a core element of our success, as we maintain our focus on supporting our customers in this changing environment."

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