Amid sluggish economic environment School Specialty Inc. (NASDAQ:SCHS) posted soft second-quarter 2012 results citing lower-than-expected sales trends in the education industry with school construction and modernization projects being either cancelled or postponed. These compelled management to trim its outlook for fiscal 2012.
The company delivered earnings of 47 cents a share, down 51% from 96 cents earned in the prior-year quarter.
Revenue Falls, Margins under Pressure
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