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News Article | November 29, 2016
Site: www.prweb.com

School Specialty, Inc. (OTCQB: SCOO) (“School Specialty,” “SSI” or “the Company”), today announced its Full Option Science System (FOSS), the leading active-learning science program in the United States, won Gold in THE Journal’s second annual Readers’ Choice Awards, in the Best Science Program category. Education technology professionals from across the country voted for the software, hardware and services they consider most vital to the job of educating and supporting America’s 50 million K-12 students. “It is an incredible honor for FOSS to be recognized by educators as one of the top science curriculums in the country,” said Bodie Marx, senior vice president of sales and product development for School Specialty Curriculum. “For more than 25 years, this robust learning resource has provided elementary and middle school educators with a powerful tool for bringing science to life in the classroom for students through unique, hands-on experiences. We look forward to working with educators to engage students in science learning for years to come.” Developed at the Lawrence Hall of Science at the University of California, Berkeley, FOSS Next Generation K-8 is a research-based active learning curriculum that engages students through firsthand experiences with scientific phenomena. Every FOSS investigation provides multiple exposures to science concepts including dynamic inquiry-based investigations, rigorous science-based reading, integrated technology resources to extend learning, opportunities to apply science to solve engineering challenges and assessment tools to help teachers monitor student progress in developing understanding. For more information about FOSS, visit http://www.deltaeducation.com/ About THE Journal THE Journal is the premier resource for K-12 senior-level district and school administrators, IT administration and instructional technologists who make decisions and influence technology purchases for their districts, schools and classrooms. About 1105 Public Sector Media Group 1105 Public Sector Media Group, a division of 1105 Media, Inc., provides information, insight and analysis to the Government IT and Education IT (FED/SLED) sectors. Our content platforms include print, digital, online, events and a broad spectrum of marketing services. http://1105publicsector.com About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace. The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources. Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential. Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products. Finally, through its SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well. SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics. For more information about School Specialty, visit http://www.schoolspecialty.com. @SchoolSpecialty Connect with School Specialty on social media; search School Specialty on Facebook, Twitter, Instagram and Pinterest. For ideas and resources, educational trends and inspiration for today’s educators – visit the Schoolyard blog.


NEGRIL, Jamaica, Oct. 28, 2016 (GLOBE NEWSWIRE) -- The Sandals Foundation, the non-profit arm of Sandals Resorts International, is proud to announce its new collaboration with School Specialty, Inc. (OTCQB:SCOO) (“School Specialty” or “SSI”) for the Pack for a Purpose® program. This partnership will further assist travelers to Sandals Resorts and Beaches Resorts, who wish to bring along much-needed supplies for the resort company’s locally-supported schools in the Caribbean. The partnership also comes at a crucial time when support is needed for the current relief and rebuilding efforts in the region following Hurricane Matthew. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fcb730e7-3afc-4bd6-b921-7d82c54ba5eb Over the next twelve months, School Specialty has committed its support to students and teachers in The Islands with a donation of educational supplies valued at US$150,000. First priority has earmarked a portion of these supplies for schools across The Bahamas including schools in hardest hit islands such as Grand Bahamas and Andros for hurricane relief efforts. The assorted products will range from well-known and trusted brands in the market, as well as SSI’s own proprietary offerings including Abilitations®, Califone®, Childcraft®, Classroom Select®, EPS®, Frey Scientific®, Premier™, Sax®, School Smart®, and Sportime® featuring SPARK™. Following a number of consultations and enlightening discussions with educators in country, the School Specialty team has also curated an assortment of classroom resources and tools that are critically needed by teachers and their students on The Islands. Together, they developed an assortment of pre-assembled backpacks filled with fundamental items for different grade levels, including art supplies, pens and pencils, notebooks and paper, various accessories such as calculators, rulers, staplers, scissors, and more. Now, guests staying at any of the Sandals and Beaches Resorts will be invited to Pack for a Purpose and purchase their supplies – for those in need as well as for their own use – through schoolspecialty.com/sandals. “School Specialty is a leader in delivering innovative curriculum materials, supplies and furnishings that help foster vital 21st century learning environments and skills, and we’re thrilled to have them on board as a partner in support of such an important initiative as Pack for a Purpose,” stated Heidi Clarke, Director of Programs for The Sandals Foundation. “This is an especially important time during our collaboration when The Bahamas have suffered tremendous destruction by Hurricane Matthew and need our help in providing essential materials and supplies for their rebuilding efforts. We’re so grateful to have a partner in School Specialty that can bring the kinds of resources children in classrooms across these affected islands and the wider Caribbean region need for a strong educational foundation. We look forward to our relationship growing and creating a better tomorrow for our young learners and future leaders.” Since 2012, the Sandals Foundation has been a key collaborator with the non-profit Pack for a Purpose program that encourages travelers to bring up to 5 pounds of needed supplies in their suitcases to meet the needs of people in nearby underdeveloped regions.  All Sandals Resorts and Beaches Resorts in Jamaica, Antigua, St. Lucia, The Bahamas, Grenada, Barbados, and Turks and Caicos serve as participating destinations for the program and have collected and distributed thousands of pounds of needed materials to the many educational institutions which the Sandals Foundation supports. “We are very excited to be partnering with the Sandals Foundation for the Pack for a Purpose initiative! Their mission aligns with School Specialty’s own values to do what’s right, to lead with action and do our best in helping and inspiring our neighbors around the world,” said Joseph M. Yorio, President and Chief Executive Officer of School Specialty. “This holds true particularly during those times when we must come together to help do what we can to support each other in crises, as we see with the aftermath of Hurricane Matthew. Together with Sandals and Beaches Resorts’ guests, we look forward to providing top-quality learning supplies and equipment that enable meaningful educational experiences and have a transformative impact on the thousands of children and their communities throughout the Caribbean, where The Sandals Foundation calls home.” The Sandals Foundation and School Specialty partnership was announced at Social Media On the Sand at Beaches Negril on October 26-30, which was attended by a number of special guests including event sponsors and influential media bloggers, who sought to sharpen their social media skills with immersive and empowering sessions. About The Sandals Foundation  The Sandals Foundation is the non-profit arm of Sandals Resorts International (SRI), the Caribbean’s leading family-owned resort company. The 501(c)(3) nonprofit organization was created to continue and to expand upon the charitable work that Sandals Resorts International has undertaken since its founding in 1981 to play a meaningful role in the lives of the communities where SRI operates throughout the Caribbean. The Sandals Foundation funds projects in three core areas: education, community and the environment. One hundred percent of the monies contributed by the general public to the Sandals Foundation go directly to programs benefiting the Caribbean community. To learn more about the Sandals Foundation, visit online at http://www.sandalsfoundation.org About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace. The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources. Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential. Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products. Finally, through its SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics. For more information about School Specialty, visit www.schoolspecialty.com. @SchoolSpecialty Connect with School Specialty on social media; search School Specialty on Facebook, Twitter, Instagram and Pinterest. For Ideas and resources, educational trends and inspiration for today’s educators – visit the Schoolyard blog.


NEGRIL, Jamaica, Oct. 28, 2016 (GLOBE NEWSWIRE) -- The Sandals Foundation, the non-profit arm of Sandals Resorts International, is proud to announce its new collaboration with School Specialty, Inc. (OTCQB:SCOO) (“School Specialty” or “SSI”) for the Pack for a Purpose® program. This partnership will further assist travelers to Sandals Resorts and Beaches Resorts, who wish to bring along much-needed supplies for the resort company’s locally-supported schools in the Caribbean. The partnership also comes at a crucial time when support is needed for the current relief and rebuilding efforts in the region following Hurricane Matthew. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fcb730e7-3afc-4bd6-b921-7d82c54ba5eb Over the next twelve months, School Specialty has committed its support to students and teachers in The Islands with a donation of educational supplies valued at US$150,000. First priority has earmarked a portion of these supplies for schools across The Bahamas including schools in hardest hit islands such as Grand Bahamas and Andros for hurricane relief efforts. The assorted products will range from well-known and trusted brands in the market, as well as SSI’s own proprietary offerings including Abilitations®, Califone®, Childcraft®, Classroom Select®, EPS®, Frey Scientific®, Premier™, Sax®, School Smart®, and Sportime® featuring SPARK™. Following a number of consultations and enlightening discussions with educators in country, the School Specialty team has also curated an assortment of classroom resources and tools that are critically needed by teachers and their students on The Islands. Together, they developed an assortment of pre-assembled backpacks filled with fundamental items for different grade levels, including art supplies, pens and pencils, notebooks and paper, various accessories such as calculators, rulers, staplers, scissors, and more. Now, guests staying at any of the Sandals and Beaches Resorts will be invited to Pack for a Purpose and purchase their supplies – for those in need as well as for their own use – through schoolspecialty.com/sandals. “School Specialty is a leader in delivering innovative curriculum materials, supplies and furnishings that help foster vital 21st century learning environments and skills, and we’re thrilled to have them on board as a partner in support of such an important initiative as Pack for a Purpose,” stated Heidi Clarke, Director of Programs for The Sandals Foundation. “This is an especially important time during our collaboration when The Bahamas have suffered tremendous destruction by Hurricane Matthew and need our help in providing essential materials and supplies for their rebuilding efforts. We’re so grateful to have a partner in School Specialty that can bring the kinds of resources children in classrooms across these affected islands and the wider Caribbean region need for a strong educational foundation. We look forward to our relationship growing and creating a better tomorrow for our young learners and future leaders.” Since 2012, the Sandals Foundation has been a key collaborator with the non-profit Pack for a Purpose program that encourages travelers to bring up to 5 pounds of needed supplies in their suitcases to meet the needs of people in nearby underdeveloped regions.  All Sandals Resorts and Beaches Resorts in Jamaica, Antigua, St. Lucia, The Bahamas, Grenada, Barbados, and Turks and Caicos serve as participating destinations for the program and have collected and distributed thousands of pounds of needed materials to the many educational institutions which the Sandals Foundation supports. “We are very excited to be partnering with the Sandals Foundation for the Pack for a Purpose initiative! Their mission aligns with School Specialty’s own values to do what’s right, to lead with action and do our best in helping and inspiring our neighbors around the world,” said Joseph M. Yorio, President and Chief Executive Officer of School Specialty. “This holds true particularly during those times when we must come together to help do what we can to support each other in crises, as we see with the aftermath of Hurricane Matthew. Together with Sandals and Beaches Resorts’ guests, we look forward to providing top-quality learning supplies and equipment that enable meaningful educational experiences and have a transformative impact on the thousands of children and their communities throughout the Caribbean, where The Sandals Foundation calls home.” The Sandals Foundation and School Specialty partnership was announced at Social Media On the Sand at Beaches Negril on October 26-30, which was attended by a number of special guests including event sponsors and influential media bloggers, who sought to sharpen their social media skills with immersive and empowering sessions. About The Sandals Foundation  The Sandals Foundation is the non-profit arm of Sandals Resorts International (SRI), the Caribbean’s leading family-owned resort company. The 501(c)(3) nonprofit organization was created to continue and to expand upon the charitable work that Sandals Resorts International has undertaken since its founding in 1981 to play a meaningful role in the lives of the communities where SRI operates throughout the Caribbean. The Sandals Foundation funds projects in three core areas: education, community and the environment. One hundred percent of the monies contributed by the general public to the Sandals Foundation go directly to programs benefiting the Caribbean community. To learn more about the Sandals Foundation, visit online at http://www.sandalsfoundation.org About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace. The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources. Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential. Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products. Finally, through its SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics. For more information about School Specialty, visit www.schoolspecialty.com. @SchoolSpecialty Connect with School Specialty on social media; search School Specialty on Facebook, Twitter, Instagram and Pinterest. For Ideas and resources, educational trends and inspiration for today’s educators – visit the Schoolyard blog.


News Article | November 1, 2016
Site: globenewswire.com

GREENVILLE, Wis., Nov. 01, 2016 (GLOBE NEWSWIRE) -- School Specialty, Inc. (OTCQB:SCOO) (“School Specialty”, “SSI” or “the Company”), a leading distributor of supplies, furniture and both curriculum and supplemental learning resources to the education, healthcare and other marketplaces, today announced financial results for its Fiscal 2016 third quarter ended September 24, 2016. Joseph M. Yorio, President and Chief Executive Officer, stated, “Our fiscal third quarter represents the largest revenue quarter for our Company and I’m pleased that we remain on track to deliver a second consecutive year of growth.  While revenues were up over $2 million in the third quarter, we exited the quarter with a strong backlog of open orders in both our Furniture and Supplies product lines, which bodes well for the fourth quarter.  As the year-to-date results indicate, our performance in Furniture and Science continues to be strong.  Importantly though, we see progress towards our objective of achieving balanced growth as our broader Supplies category is showing modest growth and we are seeing strength in specialty areas such as Art, Early Learning and Special Needs.  Through the first nine months of the year, revenues and gross margins are up, operating expenses are down and we posted increases in operating income, net income and Adjusted EBITDA.  All in all, our year-to-date performance has been solid and we have a strong, dedicated team of employees that are “Leading With Action” and making it happen every day.  But, we are not satisfied and remain laser-focused on improving the value proposition to our customers and continuing to drive value for all constituents.” Q3 Results (for the three months ended September 24, 2016 and September 26, 2015) Nine-Month Results (for the nine months ended September 24, 2016 and September 26, 2015) Yorio continued, “We have continued to invest in our business this year, and we have made substantial enhancements to our sales force structure, manufacturing and distribution capabilities, and in our systems.  These investments are enabling us to become more efficient, continue to improve our productivity and better serve our customers, while improving the scalability of our platform.  Curriculum, driven by Science, and Furniture continue to be strong growth drivers for our Company, but the strategies in place to grow our Supplies, Instructional Solutions and Reading categories are beginning to take hold.  Our balance sheet also continues to improve and our net total debt has declined by nearly $37 million as compared to the end of Q3 last year.  We believe we are positioned well to close out the year strong and look forward to reporting on our progress.” Financial Outlook The Company today updated its guidance for FY16 (December 27, 2015 – December 31, 2016).  Total FY16 revenues are now anticipated to increase by approximately 2.1% - 2.3%.  Reported gross profit margins are anticipated to improve by 20 to 40 bps, driven by lower product development amortization costs. SG&A expenses are expected to decline by approximately 4.2% – 4.4%; SG&A expenses, excluding depreciation and amortization, are expected to be down approximately 2.5% year-over-year.  The Company’s updated FY16 Adjusted EBITDA guidance is approximately $49 - $51 million, representing year-over-year improvement of 8.9% - 13.3%.  The Company expects continued strong leveraged free cash flow of approximately $27.0 million to $29.0 million for FY16, an update from prior guidance. The Company’s Adjusted EBITDA and free cash flow for fiscal 2016, as indicated below, are non-GAAP measures.  A reconciliation of these non-GAAP measures to the nearest GAAP financial measure is presented in the following tables: Additional information on the Company’s outlook for 2016 can be found in the investor presentation on page 13, which will be published shortly under the Investor Relations section of the Company’s website. School Specialty will be hosting a teleconference and webcast on November 3, 2016 at 9:00 a.m. ET to discuss its results and outlook.  Speaking from management will be Joseph M. Yorio, President and Chief Executive Officer and Ryan M. Bohr, Executive Vice President and Chief Financial Officer. For those who will be unable to participate, a teleconference replay will be available approximately five hours after the completion of the call and will last for one week (11/3/16 – 11/10/16). Interested parties can also participate in the live webcast or can access the archived call shortly thereafter, by visiting the School Specialty website in the Investor Relations section at http://investors.schoolspecialty.com. About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace.  The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources.  Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.  Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products.  Through its recently launched SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics.  For more information about School Specialty, visit www.schoolspecialty.com. Statement Concerning Forward-Looking Information Any statements made in this press release about School Specialty’s future financial condition, results of operations, expectations, plans, or prospects, including the information under the heading “Financial Outlook” constitute forward-looking statements.  Forward-looking statements also include those preceded or followed by the words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," “projects,” “should,” "targets" and/or similar expressions.  These forward-looking statements are based on School Specialty's current estimates and assumptions and, as such, involve uncertainty and risk. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those contemplated by the forward-looking statements because of a number of factors, including the risk factors described in Item 1A of School Specialty's Transition Report on Form 10-K for the 35-week transition period ended December 26, 2015, which risk factors are incorporated herein by reference.  Any forward-looking statement in this release speaks only as of the date on which it is made.  Except to the extent required under the federal securities laws, School Specialty does not intend to update or revise the forward-looking statements. Non-GAAP Financial Information This press release includes references to Adjusted EBITDA and leveraged free cash flow, non-GAAP financial measures.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; reorganization items, net; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; loss on early extinguishment of debt; early termination fee; depreciation and amortization expense; amortization of development costs; net interest expense; and stock-based compensation.  Leveraged free cash flow represent Adjusted EBITDA adjusted for: capital expenditures; product development expenditures; proceeds from asset sales; unrealized foreign exchange gains and losses; restructuring and other expenditures; changes in working capital; cash interest and taxes. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance and leveraged free cash flow a relevant supplemental measure of liquidity.  The Company believes these non-GAAP financial results provide useful supplemental information for investors regarding trends and performance of our ongoing operations and are useful for year-over-year comparisons of such results.  We also use these non-GAAP financial measures in making operational and financial decisions and in establishing operational goals.  The Company assesses its operating performance using both GAAP operating income and non-GAAP adjusted operating income in order to better isolate the impact of certain, material items that may not be comparable between periods. The Company believes that free cash flow provides a meaningful measure of its ability to generate cash and improve liquidity.  In addition, the Company believes it provides investors a useful basis for assessing the Company’s ability to fund both its operating activities and reinvestments into the business, as well as service its debt, including debt repayments. In summary, we believe that providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, helps investors to (i) evaluate our operating and financial performance and future prospects, (ii) compare financial results across accounting periods, (iii) better understand the long-term performance of our core business, and (iv) evaluate trends in our business, all consistent with how management evaluates such performance and movements. Adjusted EBITDA does not represent, and should not be considered, an alternative to net income or operating income as determined by GAAP, and our calculation may not be comparable to similarly titled measures reported by other companies. Leveraged/Unleveraged Free Cash Flow does not represent, and should not be considered, an alternative to cash flow from operations.


News Article | November 1, 2016
Site: globenewswire.com

GREENVILLE, Wis., Nov. 01, 2016 (GLOBE NEWSWIRE) -- School Specialty, Inc. (OTCQB:SCOO) (“School Specialty”, “SSI” or “the Company”), a leading distributor of supplies, furniture and both curriculum and supplemental learning resources to the education, healthcare and other marketplaces, today announced financial results for its Fiscal 2016 third quarter ended September 24, 2016. Joseph M. Yorio, President and Chief Executive Officer, stated, “Our fiscal third quarter represents the largest revenue quarter for our Company and I’m pleased that we remain on track to deliver a second consecutive year of growth.  While revenues were up over $2 million in the third quarter, we exited the quarter with a strong backlog of open orders in both our Furniture and Supplies product lines, which bodes well for the fourth quarter.  As the year-to-date results indicate, our performance in Furniture and Science continues to be strong.  Importantly though, we see progress towards our objective of achieving balanced growth as our broader Supplies category is showing modest growth and we are seeing strength in specialty areas such as Art, Early Learning and Special Needs.  Through the first nine months of the year, revenues and gross margins are up, operating expenses are down and we posted increases in operating income, net income and Adjusted EBITDA.  All in all, our year-to-date performance has been solid and we have a strong, dedicated team of employees that are “Leading With Action” and making it happen every day.  But, we are not satisfied and remain laser-focused on improving the value proposition to our customers and continuing to drive value for all constituents.” Q3 Results (for the three months ended September 24, 2016 and September 26, 2015) Nine-Month Results (for the nine months ended September 24, 2016 and September 26, 2015) Yorio continued, “We have continued to invest in our business this year, and we have made substantial enhancements to our sales force structure, manufacturing and distribution capabilities, and in our systems.  These investments are enabling us to become more efficient, continue to improve our productivity and better serve our customers, while improving the scalability of our platform.  Curriculum, driven by Science, and Furniture continue to be strong growth drivers for our Company, but the strategies in place to grow our Supplies, Instructional Solutions and Reading categories are beginning to take hold.  Our balance sheet also continues to improve and our net total debt has declined by nearly $37 million as compared to the end of Q3 last year.  We believe we are positioned well to close out the year strong and look forward to reporting on our progress.” Financial Outlook The Company today updated its guidance for FY16 (December 27, 2015 – December 31, 2016).  Total FY16 revenues are now anticipated to increase by approximately 2.1% - 2.3%.  Reported gross profit margins are anticipated to improve by 20 to 40 bps, driven by lower product development amortization costs. SG&A expenses are expected to decline by approximately 4.2% – 4.4%; SG&A expenses, excluding depreciation and amortization, are expected to be down approximately 2.5% year-over-year.  The Company’s updated FY16 Adjusted EBITDA guidance is approximately $49 - $51 million, representing year-over-year improvement of 8.9% - 13.3%.  The Company expects continued strong leveraged free cash flow of approximately $27.0 million to $29.0 million for FY16, an update from prior guidance. The Company’s Adjusted EBITDA and free cash flow for fiscal 2016, as indicated below, are non-GAAP measures.  A reconciliation of these non-GAAP measures to the nearest GAAP financial measure is presented in the following tables: Additional information on the Company’s outlook for 2016 can be found in the investor presentation on page 13, which will be published shortly under the Investor Relations section of the Company’s website. School Specialty will be hosting a teleconference and webcast on November 3, 2016 at 9:00 a.m. ET to discuss its results and outlook.  Speaking from management will be Joseph M. Yorio, President and Chief Executive Officer and Ryan M. Bohr, Executive Vice President and Chief Financial Officer. For those who will be unable to participate, a teleconference replay will be available approximately five hours after the completion of the call and will last for one week (11/3/16 – 11/10/16). Interested parties can also participate in the live webcast or can access the archived call shortly thereafter, by visiting the School Specialty website in the Investor Relations section at http://investors.schoolspecialty.com. About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace.  The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources.  Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.  Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products.  Through its recently launched SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics.  For more information about School Specialty, visit www.schoolspecialty.com. Statement Concerning Forward-Looking Information Any statements made in this press release about School Specialty’s future financial condition, results of operations, expectations, plans, or prospects, including the information under the heading “Financial Outlook” constitute forward-looking statements.  Forward-looking statements also include those preceded or followed by the words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," “projects,” “should,” "targets" and/or similar expressions.  These forward-looking statements are based on School Specialty's current estimates and assumptions and, as such, involve uncertainty and risk. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those contemplated by the forward-looking statements because of a number of factors, including the risk factors described in Item 1A of School Specialty's Transition Report on Form 10-K for the 35-week transition period ended December 26, 2015, which risk factors are incorporated herein by reference.  Any forward-looking statement in this release speaks only as of the date on which it is made.  Except to the extent required under the federal securities laws, School Specialty does not intend to update or revise the forward-looking statements. Non-GAAP Financial Information This press release includes references to Adjusted EBITDA and leveraged free cash flow, non-GAAP financial measures.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; reorganization items, net; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; loss on early extinguishment of debt; early termination fee; depreciation and amortization expense; amortization of development costs; net interest expense; and stock-based compensation.  Leveraged free cash flow represent Adjusted EBITDA adjusted for: capital expenditures; product development expenditures; proceeds from asset sales; unrealized foreign exchange gains and losses; restructuring and other expenditures; changes in working capital; cash interest and taxes. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance and leveraged free cash flow a relevant supplemental measure of liquidity.  The Company believes these non-GAAP financial results provide useful supplemental information for investors regarding trends and performance of our ongoing operations and are useful for year-over-year comparisons of such results.  We also use these non-GAAP financial measures in making operational and financial decisions and in establishing operational goals.  The Company assesses its operating performance using both GAAP operating income and non-GAAP adjusted operating income in order to better isolate the impact of certain, material items that may not be comparable between periods. The Company believes that free cash flow provides a meaningful measure of its ability to generate cash and improve liquidity.  In addition, the Company believes it provides investors a useful basis for assessing the Company’s ability to fund both its operating activities and reinvestments into the business, as well as service its debt, including debt repayments. In summary, we believe that providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, helps investors to (i) evaluate our operating and financial performance and future prospects, (ii) compare financial results across accounting periods, (iii) better understand the long-term performance of our core business, and (iv) evaluate trends in our business, all consistent with how management evaluates such performance and movements. Adjusted EBITDA does not represent, and should not be considered, an alternative to net income or operating income as determined by GAAP, and our calculation may not be comparable to similarly titled measures reported by other companies. Leveraged/Unleveraged Free Cash Flow does not represent, and should not be considered, an alternative to cash flow from operations.


GREENVILLE, Wis., Nov. 16, 2016 (GLOBE NEWSWIRE) -- SSI Guardian, LLC, a wholly-owned subsidiary of School Specialty, Inc. (OTCQB:SCOO), announced today the addition of 3M™ Safety & Solar Window Film to its 21st Century Safe School Solutions. 3M is a global innovation company that never stops inventing. The world’s first patent for sun control window film was received in 1966, and today, there are millions of buildings with 3M™ Window Film installed around the world. “A 21st Century Education can only be achieved when students and teachers are provided a safe learning environment and that is what the 21st Century Safe School approach achieves,” said Michael A. Yorio, President of SSI Guardian. “The challenges we face in ensuring safety in schools today require a constant commitment to innovation and quality. 3M is a true leader in research and development which gave SSI Guardian confidence that their products are among the best available to deploy into classrooms across the United States.” SSI Guardian continues to set the new standard in advanced safety education training through its evidenced-based advanced training curriculum that empowers educators and staff with best practices for security. SSI Guardian’s training goes beyond preparing educators for violent threats by teaching valuable prevention and mitigation strategies. The program is the only one of its nature issuing an accredited continuing education unit (CEU) from North Carolina State University. “3M is very excited to be working in close partnership with School Specialty Inc. and SSI Guardian,” states Mark Keesling, US Business Manager. “Guardian’s strong presence in the education market, in conjunction with their security systems expertise, makes them a great company with whom to align in delivering best-in-class safety solutions to school administrators.” Mr. Yorio continued, “We are thrilled to offer 3M™ Safety & Security Window Film as part of our comprehensive approach to institutional safety and can think of no better solutions provider in this area. These window films are designed to provide protection against intruders, while affording valuable time for safety protocols to be activated. A proprietary multi-layer, tear resistant structure can delay intruders for up to two minutes. An unfortunate reality of the 21st Century is confronted by 3M™ Safety & Security Window Film as it helps hold shattered glass within the frame making unwanted entry through a window more difficult." Additionally, 3M offers solar control window films that deliver valuable benefits such as heat rejection, glare control, UV resistance, energy savings and payback periods in as little as three years. Schools wanting features offered by both types of films can opt for combined solar/safety products. Recently SSI Guardian partnered with the College Football Playoff Foundation to launch the Extra Yard Classroom Makeover Project giving teachers across the U.S. a chance to win a 21st Century Makeover including the specialized 3M Safety & Security Window Film. 3M is proud to say that 3M Safety & Security Window Film has already been incorporated into thousands of schools. About 3M At 3M, we apply science in collaborative ways to improve lives daily. With $30 billion in sales, our 90,000 employees connect with customers all around the world. Learn more about 3M’s creative solutions to the world’s problems at www.3M.com or on Twitter @3M or @3MNewsroom. For more information on 3M™ Window Film, visit www.3M.com/WindowFilm. About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace.  The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources.  Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.  Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products.  Through its recently launched SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics.  For more information about School Specialty, visit www.schoolspecialty.com.


GREENVILLE, Wis., Nov. 16, 2016 (GLOBE NEWSWIRE) -- SSI Guardian, LLC, a wholly-owned subsidiary of School Specialty, Inc. (OTCQB:SCOO), announced today the addition of 3M™ Safety & Solar Window Film to its 21st Century Safe School Solutions. 3M is a global innovation company that never stops inventing. The world’s first patent for sun control window film was received in 1966, and today, there are millions of buildings with 3M™ Window Film installed around the world. “A 21st Century Education can only be achieved when students and teachers are provided a safe learning environment and that is what the 21st Century Safe School approach achieves,” said Michael A. Yorio, President of SSI Guardian. “The challenges we face in ensuring safety in schools today require a constant commitment to innovation and quality. 3M is a true leader in research and development which gave SSI Guardian confidence that their products are among the best available to deploy into classrooms across the United States.” SSI Guardian continues to set the new standard in advanced safety education training through its evidenced-based advanced training curriculum that empowers educators and staff with best practices for security. SSI Guardian’s training goes beyond preparing educators for violent threats by teaching valuable prevention and mitigation strategies. The program is the only one of its nature issuing an accredited continuing education unit (CEU) from North Carolina State University. “3M is very excited to be working in close partnership with School Specialty Inc. and SSI Guardian,” states Mark Keesling, US Business Manager. “Guardian’s strong presence in the education market, in conjunction with their security systems expertise, makes them a great company with whom to align in delivering best-in-class safety solutions to school administrators.” Mr. Yorio continued, “We are thrilled to offer 3M™ Safety & Security Window Film as part of our comprehensive approach to institutional safety and can think of no better solutions provider in this area. These window films are designed to provide protection against intruders, while affording valuable time for safety protocols to be activated. A proprietary multi-layer, tear resistant structure can delay intruders for up to two minutes. An unfortunate reality of the 21st Century is confronted by 3M™ Safety & Security Window Film as it helps hold shattered glass within the frame making unwanted entry through a window more difficult." Additionally, 3M offers solar control window films that deliver valuable benefits such as heat rejection, glare control, UV resistance, energy savings and payback periods in as little as three years. Schools wanting features offered by both types of films can opt for combined solar/safety products. Recently SSI Guardian partnered with the College Football Playoff Foundation to launch the Extra Yard Classroom Makeover Project giving teachers across the U.S. a chance to win a 21st Century Makeover including the specialized 3M Safety & Security Window Film. 3M is proud to say that 3M Safety & Security Window Film has already been incorporated into thousands of schools. About 3M At 3M, we apply science in collaborative ways to improve lives daily. With $30 billion in sales, our 90,000 employees connect with customers all around the world. Learn more about 3M’s creative solutions to the world’s problems at www.3M.com or on Twitter @3M or @3MNewsroom. For more information on 3M™ Window Film, visit www.3M.com/WindowFilm. About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace.  The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources.  Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.  Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products.  Through its recently launched SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics.  For more information about School Specialty, visit www.schoolspecialty.com.


GREENVILLE, Wis., Nov. 16, 2016 (GLOBE NEWSWIRE) -- SSI Guardian, LLC, a wholly-owned subsidiary of School Specialty, Inc. (OTCQB:SCOO), announced today the addition of 3M™ Safety & Solar Window Film to its 21st Century Safe School Solutions. 3M is a global innovation company that never stops inventing. The world’s first patent for sun control window film was received in 1966, and today, there are millions of buildings with 3M™ Window Film installed around the world. “A 21st Century Education can only be achieved when students and teachers are provided a safe learning environment and that is what the 21st Century Safe School approach achieves,” said Michael A. Yorio, President of SSI Guardian. “The challenges we face in ensuring safety in schools today require a constant commitment to innovation and quality. 3M is a true leader in research and development which gave SSI Guardian confidence that their products are among the best available to deploy into classrooms across the United States.” SSI Guardian continues to set the new standard in advanced safety education training through its evidenced-based advanced training curriculum that empowers educators and staff with best practices for security. SSI Guardian’s training goes beyond preparing educators for violent threats by teaching valuable prevention and mitigation strategies. The program is the only one of its nature issuing an accredited continuing education unit (CEU) from North Carolina State University. “3M is very excited to be working in close partnership with School Specialty Inc. and SSI Guardian,” states Mark Keesling, US Business Manager. “Guardian’s strong presence in the education market, in conjunction with their security systems expertise, makes them a great company with whom to align in delivering best-in-class safety solutions to school administrators.” Mr. Yorio continued, “We are thrilled to offer 3M™ Safety & Security Window Film as part of our comprehensive approach to institutional safety and can think of no better solutions provider in this area. These window films are designed to provide protection against intruders, while affording valuable time for safety protocols to be activated. A proprietary multi-layer, tear resistant structure can delay intruders for up to two minutes. An unfortunate reality of the 21st Century is confronted by 3M™ Safety & Security Window Film as it helps hold shattered glass within the frame making unwanted entry through a window more difficult." Additionally, 3M offers solar control window films that deliver valuable benefits such as heat rejection, glare control, UV resistance, energy savings and payback periods in as little as three years. Schools wanting features offered by both types of films can opt for combined solar/safety products. Recently SSI Guardian partnered with the College Football Playoff Foundation to launch the Extra Yard Classroom Makeover Project giving teachers across the U.S. a chance to win a 21st Century Makeover including the specialized 3M Safety & Security Window Film. 3M is proud to say that 3M Safety & Security Window Film has already been incorporated into thousands of schools. About 3M At 3M, we apply science in collaborative ways to improve lives daily. With $30 billion in sales, our 90,000 employees connect with customers all around the world. Learn more about 3M’s creative solutions to the world’s problems at www.3M.com or on Twitter @3M or @3MNewsroom. For more information on 3M™ Window Film, visit www.3M.com/WindowFilm. About School Specialty, Inc. School Specialty is a leading distributor of innovative and proprietary products, programs and services to the education marketplace.  The Company designs, develops, and provides educators with the latest and very best school supplies, furniture and both curriculum and supplemental learning resources.  Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.  Through its SSI Guardian subsidiary, the Company is also committed to school, healthcare and corporate workplace safety by offering the highest quality curriculum, training and safety and security products.  Through its recently launched SOAR Life Products brand, the Company offers thousands of products that sharpen cognitive skills and build physical and mental strength in fun and creative ways. From childhood through adulthood, they help individuals live life to the fullest – engaged, happy and well.  SOAR Life Products is a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers, day care centers, physician offices, and clinics.  For more information about School Specialty, visit www.schoolspecialty.com.


LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the school furniture market in North America is expected to grow at a CAGR of more than 12% during the forecast period. This research report titled ‘School Furniture Market in North America 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions. Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. The market research analysis categorizes the school furniture market in North America into three major product segments. They are: In terms of revenue contribution, the seating segment had the largest share of the school furniture market in North America in 2016. This segment consists of ergonomic chairs, tables, benches, and other seating facilities that are used in schools. Students require adjustable chairs and desks to attend lectures presented by teachers through projectors and on interactive whiteboards (IWBs). Vendors, including School Specialty, are introducing new types of seating furniture such as detachable tables and treadmill desks. The demand for desktop tables with attached chair is likely to increase during the forecast period. According to Jhansi Mary, a lead K12 and higher education expert from Technavio, “The furniture facilities used in the canteen and cafeterias are also evolving. As a result, schools are using contemporary chairs and tables to modernize these areas. Such shift will have a positive impact on the demand for seating options.” The storage segment accounted for the second largest share of the school furniture market in North America, with close to 29% market share in 2016. There has been a rise in demand for mobile storage facilities, which can be used anywhere as per the requirement. This helps schools in managing their school space while providing furniture facilities. For instance, furniture manufacturer Intermetal offers book display units, magazine book racks, tray units, and art storage units. Classroom storage options help students in storing their belongings that are needed for classes. The storage facilities are taken care of by the schools not only for students but also for administrative staff. Many schools have shown interests in improving their faculty rooms and other departments. The demand in this segment is growing rapidly as schools are inculcating variety of labs in their infrastructure. The furniture in science labs includes lab carts, instructor desks, lab workstations, mobile furniture, and lab equipment storage. Schools are setting up computer labs to incorporate technical knowledge among students. “One of the prominent reasons for schools adopting and refurbishing their lab furniture is due to a greater emphasis on STEM education,” says Jhansi. The top vendors highlighted by Technavio’s education market research analysts in this report are: Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like school and college essentials, and education technology. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently. Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at media@technavio.com.


Patent
School Specialty | Date: 2014-10-20

In one embodiment, a light-emitting pompon including a handle, a plurality of flexible streamers, and a plurality of elongate light-emitting objects is provided. The handle may include a first end and a second end and the plurality of streamers may extend from the first end of the handle. The plurality of elongate light-emitting objects may extend from the first end of the handle. In some embodiments, the plurality of elongate light-emitting objects may be flexible. A light source may be disposed in the handle. The light source may be configured to emit light towards the first end of the handle such that the emitted light enters into and is dispersed out of the plurality of light-emitting objects. In some embodiments, the light source may be spaced from the plurality of elongate light-emitting objects.

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