School Specialty reports $76.61 million loss for quarter ended Jan. 26

By Caroline Salls

Pittsburgh, March 7 - School Specialty, Inc. reported a $76.61 million operating loss for the three months ended Jan. 26 on $80.79 million in revenue, according to a 10-Q filed Thursday with the Securities and Exchange Commission.

In comparison, the company posted a $126.55 million operating loss for the three months ended Jan. 28, 2012 on $85.26 million in revenues.

The net loss for the latest quarter was $109.93 million, widening from a $104.61 million net loss for the same quarter of 2012.

In addition, School Specialty recorded a $22.8 million operating loss for the nine months ended Jan. 26 on $569.8 million in revenues, compared with a $73.39 million operating loss for the nine months ended Jan. 28, 2012 on $612.72 million in revenues.

The net loss for the nine months ended Jan. 26 was $77.43 million, while the net loss for the nine months ended Jan. 28, 2012 was $82.19 million.

Cash and cash equivalents were $5.31 million at Jan. 26, up from $975,000 at Jan. 28, 2012.

School Specialty, a Greenville, Wis.-based education company, filed for bankruptcy on Jan. 28 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 13-10125.

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