RTTNews | Jul 23, 2020 04:42PM EDT

16:41 Thursday, July 23, 2020 (RTTNews.com) - Scholastic Corp. (SCHL) Thursday reported fourth-quarter net loss of $13.0 million or $0.38 per share, compared to last year's net income of $17.9 million or $0.50 per share last year.

Revenues dropped 40% to $284.0 million from $470.7 million last year.

The company said revenues dropped as more than 120,000 U.S. schools serving 55 million students were closed from March through May.

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