8 February 2005 – Greenville (WI): Revenue at School Specialty increased by 20 per cent in the Q3 of fiscal 2005, the company has reported.
Revenue for the quarter came in at $128.1 million, a 20.2 per cent increase over the $106.6 reported in Q3 2004.
However the company posted a net loss of $11.2 million, down from a loss of $10.1 reported in last year’s Q3. This was partly down to ongoing restructuring charges resulting from the closure of seven US distribution facilities and the move to a new east-coast facility in Lancaster, Pennsylvania.
President/CEO David Vander Zanden said: "Our warehouse integration goals this quarter were very ambitious and, we are pleased to report, are right on schedule. We are looking forward to the fiscal 2006 season with all our major franchises under a common infrastructure.
"We are confirming our earlier fiscal 205 revenue guidance of $980 million to $1 billion representing revenue growth of 8 to 10 per cent," he added.