Friday, December 16, 2011

The Hunger Games helps Scholastic's profits

The Associated Press December 15, 2011, 9:54AM ET text size: TT

Scholastic fiscal 2nd-qtr profit rises 11 pct

Publishing and education company Scholastic Corp. said Thursday that its fiscal second-quarter net income rose nearly 11 percent, boosted by sales of children's books such as "The Hunger Games" trilogy and education technology products, particularly its remedial reading programs. Shares rose in morning trading.

Like many book companies, Scholastic is navigating how to stay relevant to readers who are increasingly shifting from paper books to tablets, such as Apple Inc.'s iPad. The company is preparing to launch an e-reading app and e-bookstore in March 2012.

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