News Article | November 29, 2016
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.
News Article | November 1, 2016
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 | October 12, 2016
GREENVILLE, Wis., Oct. 12, 2016 (GLOBE NEWSWIRE) -- Childcraft®, the award-winning early childhood education brand of School Specialty, Inc. (OTCQB:SCOO) (“School Specialty”, “SSI” or “the Company”), will be showcasing its latest solutions at the 2016 NAEYC Annual Conference & Expo, slated for November 2-5 in Los Angeles, California. In recognition of its 70th anniversary this year, Childcraft will also be hosting a number of subject-matter expert presentations and exciting giveaways at its Exhibition Booth # 1204 – highlighting seven decades of innovation, transformation and appreciation of the early childhood education community. One of the special highlights will be a day of literacy and music with Eric Litwin, the # 1 New York Times Best Selling author of the original four Pete the Cat books, The Nuts and Groovy Joe. “We look forward with excitement for this year’s NAEYC Conference being the most dynamic one yet! Demonstrating our wide assortment of innovative learning materials, supplies and furnishings will be extra special for us as Childcraft celebrates 70 years serving our nation’s dedicated early childhood professionals and their eager little learners,” stated Andrea Johnson, Director of Marketing – Early Childhood and Furniture & Equipment at School Specialty. “We continue to take pride in delivering top quality, age-appropriate products that offer every child the solid educational foundation they need.to develop and grow to be tomorrow’s leaders. We’re thrilled to have the opportunity to engage directly with early childhood educators and share Childcraft’s imaginative, innovative, new products for 2017.” Visitors to the booth will have the opportunity to view the latest Childcraft Manipulative Sets, Mobile Science Modules, dual language learning tools, materials for children with special needs, activity tables and chairs including the Classroom Select® NeoRok™ Movement Stool, classroom products for STEAM areas, and a range of other accessories for infants, toddlers and Pre-K students. Additionally, attendees will be able to join in special presentations by Cecilia Cruse, Special Needs Subject-Matter Expert, MS, OTR/L and Ginny Streckewald, Early Childhood Education Manager at Childcraft, M. Ed. Ms. Cruse will kick off the conference at 8am on Thursday, November 3rd with a workshop on early childhood intervention, offering “10 Terrific Tips to Promote Great Fine Motor Skills”. Ms. Streckewald will offer insights for early art education with her program at 8am on Saturday, November 5th entitled, “Think, Problem-Solve, and Create: Skills of the Young Artist at Work”. Visitors will also have an opportunity to enter a drawing to win the Grand Prize from Crayola, which is valued up to $1000, as well as signed copies of Eric Litwin’s newest title, “Groovy Joe: Ice Cream and Dinosaurs”. In addition, each day will feature a surprise giveaway gift for the first 500 attendees. Perhaps the most exciting, must-attend event at NAEYC will be Childcraft’s Day with Eric Litwin. Mr. Litwin is a song singing, guitar strumming, # 1 New York Times Best Selling author who brings early literacy and music together. He is the original author of the Pete the Cat series as well as the author of The Nuts and Groovy Joe. Eric's books have sold over 8.5 million copies; they have been translated into 13 languages and have won 18 literacy awards including a Theodor Geisel Seuss Honor Award. He will be appearing at three Childcraft-sponsored events on Friday, November 4th: The day and evening is expected to be filled with dancing activities, a meet-and-greet session and fun giveaways. Look for more information by visiting Childcraft on Facebook, Twitter and Childcraft.com/NAEYC2016. “I’m honored and excited for the opportunity to meet with teachers, administrators and practitioners from across the country in various dynamic and engaging sessions at the NAEYC Conference. This year is especially meaningful for me having worked with teachers for the last 20 years,” Mr. Litwin commented. “Attendees should get ready to sing, dance and fall in love with interactive literacy. The presentations will be fun and practical, showing how simple techniques such as music, movement, call and response, and repetition help children learn to read and fall in love with books. See you there!” “Our Childcraft and School Specialty team is elated to have Eric join us at NAEYC 2016 and we greatly appreciate him taking time out of his busy schedule! He’s just phenomenal and we know that attendees will take away vital insights and practical skills that can have a transformative impact on the lives of their young students, as well as their own professional development. We look forward to an amazing show this year,” concluded Ms. Johnson. Since 1946, Childcraft® prized manipulatives, furniture and games have helped early childhood educators cultivate the lives of little learners from birth to grade 2. The brand has broken ground with top-quality, unique furnishings and learning materials that can act as a second teacher in the room and align with early learning standards of excellence – including those set by NAEYC. With a full selection of early childhood educational products, Childcraft and School Specialty continues to be America’s leader in creating complete and effective learning environments that meet the needs of all children by building crucial 21st century learning skills. The NAEYC Annual Conference & Expo brings together thought leaders, classroom teachers and faculty, administrators, researchers, and other critically important practitioners and contributors in early childhood education. Whether you are a newcomer to the field or an experienced professional, the conference provides the opportunity to help advance shared work on behalf of children during their most critical period of development and learning. For more information on NAEYC 2016, visit www.naeyc.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 16, 2016
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.
News Article | October 28, 2016
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 | February 22, 2017
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 email@example.com.
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.
News Article | February 4, 2014
Zilliant, an optimization company that helps businesses make better pricing and sales decisions, today announced that the company achieved record-breaking growth in 2013. Zilliant’s success is accelerating because of its software-as-as-service (SaaS) model and the new Zilliant Optimization Platform, which enables industry-leading implementation times for its MarginMax and SalesMax applications to deliver better financial results to customers faster. “Companies are beginning to recognize that to overcome the massive complexity in their businesses, they need to rely on optimization models to make sales and pricing decisions,” said Greg Peters, president and CEO of Zilliant. “As demand for sales and price optimization solutions increases, we’re staying committed to product innovation to help customers achieve stronger financial results at a faster rate.” With the launch of MarginMax 8.0 on the new Zilliant Optimization Platform, Zilliant can deliver market-aligned prices to customers in less than 90 days. Zilliant is now the only company offering a “true SaaS,” multi-tenant B2B optimization platform in the marketplace. Zilliant increased market share in existing industry verticals and expanded into new markets with wins throughout Europe, South America and Asia. New customers in 2013 include: Brady WPS, School Specialty and Horizon Milling. “Optimization models are the only way to answer key questions such as which products and markets offer the greatest growth potential, where pricing and strategy are misaligned, and how to manage cost volatility and capacity allocation,” Peters said. “But the real gains come from transforming these insights into actionable guidance for front-line sales and marketing decision makers, which is where Zilliant excels.” About Zilliant Zilliant provides B2B companies with data-driven guidance, enabling better pricing and sales decisions to help businesses make their numbers. The Zilliant Optimization Platform uses advanced science in its price optimization, cross-sell and retention applications to enable companies to overcome the massive complexity in their businesses. Our flexible SaaS model allows customers to quickly and confidently improve their financial performance by integrating into existing systems and processes. Learn more about how Zilliant helps companies price more profitably and sell more effectively at http://www.zilliant.com.
News Article | August 4, 2015
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced its financial results for the quarter ended June 30, 2015. "We exceeded the high end of our guidance for revenue in the second quarter due to a number of factors including strength in variable revenue and better pricing dynamics,” said David Spitz, CEO of ChannelAdvisor. “We are seeing early signs of success from the strategy that we established earlier this year - to focus on larger customers and brands, increase pricing discipline, and accelerate our path to profitability while continuing to enhance and extend our technology leadership. We’re particularly encouraged by the improved leverage in our model which resulted in adjusted EBITDA that was well above expectations and was in fact our smallest loss since going public more than two years ago. Our focus remains on driving revenue growth that can be profitable for us over time." Based on information available as of today, ChannelAdvisor is issuing the following guidance for the third quarter and full year of 2015: Number of customers includes all customers who subscribe to at least one of our solutions, but excludes customers who subscribe only to one of our legacy product offerings from prior to 2008 that are focused on solutions for lower-volume eBay sellers. Average revenue per customer is revenue divided by the average monthly number of customers during the period. Subscription dollar retention rate is calculated for a particular period by establishing the cohort of customers that had active contracts as of the end of the prior period. We then calculate our subscription dollar retention rate by taking the amount of fixed subscription revenue we recognized for the cohort in the period for which we are reporting the rate and dividing it by the fixed subscription revenue we recognized for the same cohort in the prior period. For this purpose any variable subscription fees paid by our customers or any implementation fees. This press release contains the following non-GAAP financial measures: non-GAAP net loss, non-GAAP net loss per share and adjusted EBITDA. ChannelAdvisor believes that these non-GAAP measures of financial results provide useful information to management and investors relating to ChannelAdvisor’s financial condition and results of operations. The company’s management uses these non-GAAP measures to compare the company’s performance to that of prior periods for trend analyses, and for budgeting and planning purposes. The company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the company’s financial measures with other software companies, many of which present similar non-GAAP financial measures to investors, and that it allows for greater transparency with respect to key metrics used by management in its financial and operational decision-making. Management of the company does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by GAAP to be recorded in the company’s financial statements. In order to compensate for these limitations, management presents non-GAAP financial measures together with GAAP results. Non-GAAP measures should be considered in addition to results and guidance prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this release. ChannelAdvisor urges investors to review the reconciliation and not to rely on any single financial measure to evaluate the company’s business. In addition, other companies, including companies in our industry, may calculate similarly named non-GAAP measures differently than we do, which limits their usefulness in comparing our financial results with theirs. With respect to our expectations under "Financial Outlook" above, reconciliation of non-GAAP Adjusted EBITDA guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. ChannelAdvisor (NYSE: ECOM) is a leading provider of cloud-based e-commerce solutions that enable online retailers and manufacturers to integrate, manage and optimize their merchandise sales across hundreds of online channels including Amazon, Google, eBay, Facebook and more. Through automation, analytics and optimization, ChannelAdvisor customers can leverage a single inventory feed to more efficiently list and advertise products online, and connect with shoppers to increase sales. Billions of dollars in merchandise value are driven through ChannelAdvisor’s platform every year, and thousands of customers use ChannelAdvisor’s solutions to help grow their businesses. For more information, visit www.channeladvisor.com. This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook and guidance and expectations regarding our growth and that of the e-commerce industry. These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections, as well as the current beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond ChannelAdvisor’s control. ChannelAdvisor’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in ChannelAdvisor’s Annual Report on Form 10-K for the year ended December 31, 2014 and its Quarterly Report on Form 10-Q that will be filed for the quarter ended June 30, 2015, as well as other documents that may be filed by the company from time to time with the Securities and Exchange Commission. These documents are available on the ‘SEC Filings’ section of the Investor Relations page of our website at http://ir.channeladvisor.com. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: our reliance for a significant portion of our revenue on sales by our customers on the Amazon and eBay marketplaces and through advertisements on Google; our ability to respond to rapid changes in channel technologies or requirements; our ability to compete successfully against current and future competitors, which could include the channels themselves; our reliance in part on a pricing model under which a portion of the subscription fees we receive from customers is variable, based upon the amount of transaction volume that those customers process through our platform; our reliance on non-redundant data centers and cloud computing providers to deliver our SaaS solutions; the potential that the e-commerce market does not grow, or grows more slowly than we expect, particularly on the channels that our solutions support; challenges and risks associated with our increasing international operations; and security or privacy breaches. The forward-looking statements included in this press release represent ChannelAdvisor’s views as of the date of this press release. ChannelAdvisor undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, these forward-looking statements should not be relied upon as representing ChannelAdvisor’s views as of any date subsequent to the date of this press release. (1) Amounts are excluded from each operating expense line item and presented separately in Depreciation and amortization on the Consolidated Statements of Operations
News Article | July 14, 2015
The use of digital payment is becoming more and more common across many industries. However, one place where it’s lagging is in education. Thankfully, ClassWallet has created a digital wallet platform for schools to track incoming and outgoing payments. The Miami based startup recently closed a $1.9 million seed round, bringing their total funding to $2.53 million. Investors include NewSchools Venture Seed Fund, Kaplan Ventures, William Guttman. There was also support from previous investors Accelerated Growth Partners and other leading Miami-based angel investors, including MaverixLab. ClassWallet offers an end-to-end digital management system for schools. So far they have several school districts and organizations using their platform including Harrington Park School District, Albuquerque Public Schools Education Foundation, Reading is Fundamental, Broward Education Foundation. Additionally,, almost 50 companies, including Amazon, Office Depot, Best Buy, School Specialty, and Scholastic currently accept ClassWallet as a form of payment. Founder and CEO Jamie Rosenberg is a serial entrepreneur who previously founded AdoptAClassroom.org. Since 1998, AdoptAClassroom.org has raised $25 million on behalf of 150,000 classrooms across the United States. This experience led Rosenberg to realize how hard it is for schools to track the money coming in and out. With so many school districts cutting budgets, properly management of the money that is available is becoming more and more critical. “As school budgets shrink, an increasingly larger portion of procurement is being funded by corporations, foundations, parents and teachers to meet student needs,” said Jamie Rosenberg, ClassWallet’s founder and CEO. “The size of this market, up to $23 billion annually, and the amount of inefficiency and lack of transparency is staggering.” The company will put the funding towards increasing sales and product development. the ClassWallet team plans to reThe team plans to release the next version of its platform over the summer. It will include , which will include a reloadable debit card and a Pay by ClassWallet API for vendors. ClassWallet is a graduate of the Kaplan EdTech Accelerator, powered by Techstars. It is a three month long, immersive, mentor-driven program that hosts education technology startups.