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1、2021/2022ANNUAL REPORT557 Broadway,New York,NY 10012 212 343 6100 This past year,we were all part of history as educators,families,students and communities reinvigorated learning and navigated an uncertain time.Scholastic employees were there for our stakeholders and every day,we reaffirm our missio
2、n to support the growth of all children through literacy and the power of stories in order to gain comfort,happiness,knowledge,and confidence.President&CEO Peter WarwickAugust 8,2022 Fellow Shareholders,These past twelve months,Scholastic has embraced change and the need for adaptability to meet bot
3、h the market and societal needs of our customers.With a strong focus on mission and fortifying our core businesses in order to enable a strong growth strategy,we brought our fiscal year 2022 to an impressive close with results that exceeded expectations for this rebuilding year.Led by a resurgence o
4、f in-person book fairs,our full-year revenues grew 26%and operating income increased by$120 million.Based on these strong results,combined with our optimism for the future,in July,we announced a 33%increase to our regular quarterly dividend and resumed providing guidance.For more information,please
5、review our fiscal 2022 fourth quarter earnings release at .Reflecting upon our past fiscal year,we are firm in our belief that the positive momentum will continue,fueled by these factors:?The growing demand for independent reading and children s book ownership is clear to us through book purchases m
6、ade by families,schools and sponsor partners to help build home,school and classroom libraries;?Scholastic Book Fairs and Scholastic Book Clubs remain critical touchpoints to gain books.In fairs,we continued to advance our recovery with 72%of pre-pandemic fair counts this past fiscal year which we e