Scholastic Corporation (SCHL) 2009年年度报告「NASDAQ」.pdf

1、2008/2009 ANNUAL REPORTREADING AND LEARNING IN THE 21ST CENTURYAR-CV_FR2009V2_UG.qxd:AnnualReport2009 7/29/09 11:40 AM Page 4“So let there be no doubt:the future belongs to thenation that best educates its citizensand my fellowAmericans,we have everything we need to be thatnation.We have innovative

2、principals,passionate teachers,gifted students,and parents whose onlypriority is their childs education.We have a legacyof excellence,and an unwavering belief that our children should climb higher than we did.”President Barack ObamaAR-CV_FR2009V2_UG.qxd:AnnualReport2009 8/3/09 9:47 PM Page 1Fellow S

3、tockholders:Our fiscal 2009 year was a difficult period for many businesses,especially for those like our companythat serve families and schools.Nevertheless,Scholastic managed to hold revenues approximately level withthe prior fiscal year,excluding the impact of foreign exchange and the extraordina

4、ry benefit from thepublication of the final book in J.K.Rowlings Harry Potter series in fiscal 2008.Our ability to sustain salesdemonstrates the loyal support of our customers,who responded to the value we offer through our uniquebook distribution channels,as well as the importance of our educationa

5、l technology to schools seeking toraise student achievement.In addition,we finished the year with a strong balance sheet,generating$85million in free cash flow and reducing net debt by$74 million to$160 million our lowest year-end level inmore than 10 years.Throughout fiscal 2009 we took steps to po

6、sition the Company to reach our goal of achieving a 9%operatingmargin in fiscal 2010.During the year,we completed the sale of the continuities business and continued to exitother non-core and unprofitable businesses.We took action to cut supply chain and manufacturing costs,andimprove efficiencies a