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News Article | July 11, 2017
Site: globenewswire.com

GREENVILLE, Wis., July 11, 2017 (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, is pleased to announce today that the Company has entered into an exclusive partnership with OI, Inc., an industry-leading software and technology provider, to offer differentiated project-based furniture and equipment services.  “We have a stronger market offering because of this unique partnership,” stated School Specialty’s Allen Hoeppner, Vice President of Furniture, Early Childhood & Special Needs Procurement. “With OI’s platform focused on delivering collaborative productivity enhancement solutions through the online innovation of integrated data and technology, we fully expect this program to have a significant impact on client service, experience and fulfillment. With the various modules we now have access to, we will be able to provide a more comprehensive offering to our customers.” With OI’s more than two decades serving the Education market and particularly within the F&E ecosystem, School Specialty will be leveraging the provider’s technology platform to support its business. The Company will be integrating OI solutions into its own, to create a collaborative online specification platform that will serve as a link between SSI and its external touch points such as interior designers, manufacturers and school customers. The new collaborative platform will give SSI the ability to create more professional sales proposals, specification booklets, cut sheets, and more, within a fraction of the time taken when using past conventional programs. In addition to time and efficiency, SSI will have the ability to enhance project design documents, while integrating with existing order entry, accounting and other features of its enterprise systems. The Company will also have greater mobile capabilities, which is a must in today’s sales environment. The new, web-based platform will give the SSI team complete control over the F&E process. “Our School Specialty Projects by Design (PbD) sales team, through an even stronger collaboration with OI, will be able to offer the education marketplace a full array of products and services supported by this robust technology platform,” said Bryan Shark, Vice President of Sales – Furniture & Equipment. “We now have advanced capabilities to provide our school customers greater control in elevating their learning environments – including designing and equipping classrooms to ensure safe experiences and meeting the need for collaboration areas and makerspaces – so that all students have the opportunity to develop 21st century skills.” As underscored by OI’s CEO John Harvey, “Having specified, delivered, installed, and managed hundreds of projects with thousands of products, I have experienced many of the best and worst industry practices. We have incorporated 25 years of collaboration with some of the industry’s top furniture and equipment process management professionals to deliver the only complete solution for managing your ongoing projects and facilities. Only with OI and School Specialty can the school, specifier, project manager, equipment supplier, installer, move manager, product manufacturer, building occupants, and maintenance team ALL work with a common, collaborative, real-time productivity platform to accomplish their goals.” Mr. Hoeppner concluded, “We expect this unique partnership will boost our F&E growth objectives, reduce costs and improve productivity. Previously, we used only a small piece of the OI platform to support our Projects business. Now, we have exclusive access to over 10 additional modules. For example, with OI Shop, customers will soon be able to order additional or replacement project items from a mobile app; this is something that is critical for field sales and those responsible for purchasing. With OI Manage and OI Capture, we will have a visual, QR coded inventory of customers’ assets that will help both our sales team and clients determine whether to use existing F&E or buy new. These are just some of the new features exclusive to School Specialty that will enable us to have a very unique solution to enhance our PbD service model and offer the strongest Projects Service support package available to the Education F&E market.” 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 | August 1, 2017
Site: globenewswire.com

GREENVILLE, Wis., Aug. 01, 2017 (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 that it will be reporting its financial results for its fiscal 2017 second quarter ended July 1, 2017 on Wednesday, August 9, 2017.  The Company will be hosting a teleconference and webcast on Thursday, August 10, 2017 at 9:00 a.m. Eastern to discuss its results and outlook. Speaking from management will be Joseph M. Yorio, President and Chief Executive Officer, Ryan M. Bohr, Executive Vice President and Chief Operating Officer, and Kevin Baehler, Senior Vice President and Chief Financial Officer. Interested parties can also participate on the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate on the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 | June 26, 2017
Site: globenewswire.com

GREENVILLE, Wis., June 26, 2017 (GLOBE NEWSWIRE) -- When K-12 educators build a contemporary learning environment, the suite of tools used in the space is greater than the sum of its parts. Teachers and students need classroom resources to work cohesively to support all learning initiatives. To address this need,  (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, is excited to announce today the concept of the 21st Century Safe School. This concept involves a holistic approach to designing and equipping school environments in order to ensure safe, successful and forward-thinking learning experiences. “After purchasing a classroom tool, such as a 3D printer, teachers are often left wondering where the resource fits in their current classroom environment or makerspace and what to do next,” said Jason Heim, a middle school science teacher from Medfield, Massachusetts. “With a one-stop-shop like School Specialty for education resources, educators can be assured that each product will support one another in the learning environment.” As educators select the tools to support a dynamic learning environment, School Specialty is strategically positioned as a holistic provider of products and services for the needs of each classroom, including collaboration areas and makerspaces. The Company works with a team of experts to develop innovative technology solutions, standards-based curriculum, furniture, safety and security, and more to enable educators to build a comprehensive learning environment. Educators receive expert assistance for implementation from onsite support, ensuring that each piece fits seamlessly into the overall environment. “Each district comes to a purchasing decision with a distinct budget and situation, which can make it challenging to build a modern classroom environment or makerspace tool by tool,” stated Doug Welles, Vice President, Specialty Businesses. “By working with School Specialty’s holistic set of solutions, schools can fully address the complexities of today’s classroom while fostering a safe, secure learning space.” School Specialty is exhibiting at ISTE 2017 and invites attendees to visit its booth #1252 to interact with an in-booth makerspace and collaborative learning environment. Attendees will be able to demo STEM-oriented curriculum products, makerspace furniture, a 3D printer and more. For more information on School Specialty, please visit . 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.


GREENVILLE, Wis., May 22, 2017 (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, is excited to announce today the completion of a major classroom renovation project at L’Ouverture Career Explorations and Technology Magnet School in Wichita, Kansas. As part of a push by the Wichita Public Schools District to create a forward-thinking, more flexible and collaborative learning environment for 21st century education, the L’Ouverture and School Specialty teams worked closely over the last year to outfit a total of 18 classrooms for K-5 with innovative furniture and media technology solutions.  A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eb6ef406-b1c1-4f63-94f8-3857f2b00e2b For the initial 2016 project, School Specialty and its Projects by Design (PbD) group focused on modeling two classrooms at L’Ouverture (second and fifth grades). This included installing flexible and mobile seating options that could transform the traditional and typically rigid environment into a more modern setting, adaptable to different teaching and learning styles. The versatile furnishings were so well received by faculty and students that the district expanded the project to another sixteen K-5 classrooms, as well as the library in 2017. Following a federal grant secured by the district’s magnet schools department, a portion was designated for classroom enhancements, with the objective of supporting a “deskless” environment that promoted more student movement for learning and enabling teachers to utilize various instructional methods for greater collaboration, communication, creativity and critical-thinking. At L’Ouverture, they wanted students to have the option to sit where it was most conducive for their learning – and not be restricted by the stationary desk and chair layout typical of a traditional classroom setting. This could only be achieved with the appropriate furniture and equipment. “Our School Specialty team met with Wichita Public Schools administrators to understand the district’s unique needs and assess the classroom renovation process,” stated Heather Whealy, Territory Sales Manager - Kansas. “In May 2016, we did two model classrooms at L’Ouverture and after these were completed, teachers could see and test the furniture. We then worked for about six months on plans for the other classroom upgrades and were officially retained to help rollout the full project by March 2017. Our SSI/PbD managers collaborated closely with school officials including Stephanie Doshier (Grant and Curriculum Facilitator) and Janelle Roland (Instructional Coach) on furniture selection for each grade, then we created a reference manual which teachers could use to pick specific products for their classrooms. We met with teachers over a number of days to ensure the selection process was an easy and seamless one.” “We assisted the L’Ouverture team with identifying certain furniture options – type, size, color – that would be most beneficial to their goals and consulted directly with teachers to determine what they hoped to accomplish for their students,” continued Wade Seeley, School Specialty’s Market Development Manager, Furniture and Equipment. “Chiefly, administrators were seeking flexible and mobile furnishings that would give them the ability to shift instructional methods according to learning needs and on a continuous basis. As partners, we were committed to developing more contemporary educational spaces that would benefit both the Wichita Public Schools District and by extension, the surrounding communities it serves.” Flexible seating can encompass a variety of furniture options. Mobile seating can be configured into a variety of positions to support different teaching approaches, which is a key tenet of 21st century learning. Soft seating allows students to be comfortable, enhancing their enjoyment while at school. And movement seating, which allows students to rock gently in their seats, has been shown to improve attention spans and increase engagement. School Specialty and Projects by Design provided a combination of solutions from its Classroom Select line, including NeoMove™ and NeoRock™ furniture, as well as products from vendor partners such as Smith System, MiEN and Media Technologies. NeoMove™ and NeoRok™ seating enable students to move gently (forward, backward or side-to-side), promoting a calming effect and encouraging them to concentrate. This is especially beneficial for students with special needs, for whom sitting still can be a challenge and distraction. “Since outfitting our classroom with the new furniture, it has been a game changer,” stated Candice Ulbrich, fifth grade teacher. “The kids absolutely love the different seating choices; instead of sitting at their desks for several hours, they’re able to move around more and interact with their classmates to share views and ideas. Already I’ve seen notable changes in behavior and attitudes as students come in very excited and eager to learn every day. As their teacher, I’m also able to walk around the classroom more easily and hear all the conversations. It’s just a more comfortable and open environment that can support whatever form of instruction that’s appropriate or whatever learning needs there are for all my students.” “We must commend the SSI/PbD team for giving us the blueprint to be truly deskless. As a tech-focused school, we had this notion of creating a ‘deskless’ environment that would be flexible and collaborative. Yet, there was a lot that we didn’t know about effectively executing this concept and the SSI team worked closely to see us through the process,” said Stephanie Doshier, Grant and Curriculum Facilitator. “It has been a huge learning experience; we understand the importance of providing a classroom setting where all children can learn and one that can grow with changing requirements. We’re hearing students say how much they love their classrooms and being able to engage more with their peers and teachers comfortably and securely. On the professional development side, the makeover has positively impacted the teaching approach, as our faculty members look more thoughtfully at lesson plans and expand their mindset. We’re proud of the results and excited by the constructive feedback from other local and national school districts that are paying attention to L’Ouverture’s 21st century transformation.” In related news, L’Ouverture Career Explorations and Technology Magnet School was most recently recognized as a trailblazer in education. Principal Greg Croomes and Teacher Stephanie Doshier were both honored with the National Principal and National Teacher of the Year awards for Region VII, given by Magnet Schools of America. For more information about these honors, please go to https://m.youtube.com/watch?v=T5yrlwyUoyI and see Principal Croomes and Teacher Doshier share more about their vision and achievements. 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 | May 9, 2017
Site: globenewswire.com

GREENVILLE, Wis., May 09, 2017 (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 2017 first quarter ended April 1, 2017. Joseph M. Yorio, President and Chief Executive Officer, stated, “During the first quarter, we saw balanced growth within our Distribution business, as most of our categories were up year-over-year.  Supplies and Furniture, which comprise over 85% of our Distribution revenues, continues to grow and we are seeing steady demand across a number of specialty product categories.  While our Curriculum revenues were down, this was anticipated given fewer Science state adoptions in 2017.  Reading softness appears to be largely timing related.  Booking trends within the category have picked up nicely and we continue to anticipate the category will grow in 2017.  Overall, our top-line outlook for the year is unchanged.  We believe the Company is positioned to generate growth in excess of 2.0% this year, with opportunities to expand across categories and new markets over the coming years, especially as team selling and other initiatives take hold.” Q1 Results (for the three months ended April 1, 2017 and March 26, 2016) Mr. Yorio continued, “We are investing in our infrastructure and upgrading our systems companywide; these investments will not only facilitate a better customer experience and process improvements, but will also enable cost savings and growth.  We are also investing in our people, bringing in the right domain experts to drive both growth and profitability.  While operating income and Adjusted EBITDA are lower for the comparable first quarter, we are generally tracking in line with our plan and our guidance for 2017 remains unchanged.  We have taken steps to strengthen our balance sheet by refinancing our debt and, with the new facilities in place, have more flexibility to execute our strategy, while pursuing appropriate avenues to enhance our competitive position and valuation.  All in all, we expect to deliver on our top and bottom-line objectives in 2017 and look forward to reporting on our progress.” Additional information on the Company’s outlook for 2017 can be found in the investor presentation on pages 18-19, 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 May 11, 2017 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. Interested parties can also participate in the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate in the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 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 Form 10-K for the fiscal year ended December 31, 2016, 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, a non-GAAP financial measure.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; depreciation and amortization expense; amortization of development costs net interest expense; and stock-based compensation. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance.  The Company believes this non-GAAP financial result provides 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 this non-GAAP financial measure 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. In summary, we believe that providing this non-GAAP financial measure 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.


News Article | May 9, 2017
Site: globenewswire.com

GREENVILLE, Wis., May 09, 2017 (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 2017 first quarter ended April 1, 2017. Joseph M. Yorio, President and Chief Executive Officer, stated, “During the first quarter, we saw balanced growth within our Distribution business, as most of our categories were up year-over-year.  Supplies and Furniture, which comprise over 85% of our Distribution revenues, continues to grow and we are seeing steady demand across a number of specialty product categories.  While our Curriculum revenues were down, this was anticipated given fewer Science state adoptions in 2017.  Reading softness appears to be largely timing related.  Booking trends within the category have picked up nicely and we continue to anticipate the category will grow in 2017.  Overall, our top-line outlook for the year is unchanged.  We believe the Company is positioned to generate growth in excess of 2.0% this year, with opportunities to expand across categories and new markets over the coming years, especially as team selling and other initiatives take hold.” Q1 Results (for the three months ended April 1, 2017 and March 26, 2016) Mr. Yorio continued, “We are investing in our infrastructure and upgrading our systems companywide; these investments will not only facilitate a better customer experience and process improvements, but will also enable cost savings and growth.  We are also investing in our people, bringing in the right domain experts to drive both growth and profitability.  While operating income and Adjusted EBITDA are lower for the comparable first quarter, we are generally tracking in line with our plan and our guidance for 2017 remains unchanged.  We have taken steps to strengthen our balance sheet by refinancing our debt and, with the new facilities in place, have more flexibility to execute our strategy, while pursuing appropriate avenues to enhance our competitive position and valuation.  All in all, we expect to deliver on our top and bottom-line objectives in 2017 and look forward to reporting on our progress.” Additional information on the Company’s outlook for 2017 can be found in the investor presentation on pages 18-19, 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 May 11, 2017 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. Interested parties can also participate in the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate in the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 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 Form 10-K for the fiscal year ended December 31, 2016, 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, a non-GAAP financial measure.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; depreciation and amortization expense; amortization of development costs net interest expense; and stock-based compensation. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance.  The Company believes this non-GAAP financial result provides 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 this non-GAAP financial measure 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. In summary, we believe that providing this non-GAAP financial measure 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.


News Article | May 9, 2017
Site: globenewswire.com

GREENVILLE, Wis., May 09, 2017 (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 2017 first quarter ended April 1, 2017. Joseph M. Yorio, President and Chief Executive Officer, stated, “During the first quarter, we saw balanced growth within our Distribution business, as most of our categories were up year-over-year.  Supplies and Furniture, which comprise over 85% of our Distribution revenues, continues to grow and we are seeing steady demand across a number of specialty product categories.  While our Curriculum revenues were down, this was anticipated given fewer Science state adoptions in 2017.  Reading softness appears to be largely timing related.  Booking trends within the category have picked up nicely and we continue to anticipate the category will grow in 2017.  Overall, our top-line outlook for the year is unchanged.  We believe the Company is positioned to generate growth in excess of 2.0% this year, with opportunities to expand across categories and new markets over the coming years, especially as team selling and other initiatives take hold.” Q1 Results (for the three months ended April 1, 2017 and March 26, 2016) Mr. Yorio continued, “We are investing in our infrastructure and upgrading our systems companywide; these investments will not only facilitate a better customer experience and process improvements, but will also enable cost savings and growth.  We are also investing in our people, bringing in the right domain experts to drive both growth and profitability.  While operating income and Adjusted EBITDA are lower for the comparable first quarter, we are generally tracking in line with our plan and our guidance for 2017 remains unchanged.  We have taken steps to strengthen our balance sheet by refinancing our debt and, with the new facilities in place, have more flexibility to execute our strategy, while pursuing appropriate avenues to enhance our competitive position and valuation.  All in all, we expect to deliver on our top and bottom-line objectives in 2017 and look forward to reporting on our progress.” Additional information on the Company’s outlook for 2017 can be found in the investor presentation on pages 18-19, 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 May 11, 2017 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. Interested parties can also participate in the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate in the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 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 Form 10-K for the fiscal year ended December 31, 2016, 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, a non-GAAP financial measure.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; depreciation and amortization expense; amortization of development costs net interest expense; and stock-based compensation. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance.  The Company believes this non-GAAP financial result provides 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 this non-GAAP financial measure 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. In summary, we believe that providing this non-GAAP financial measure 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.


News Article | May 9, 2017
Site: globenewswire.com

GREENVILLE, Wis., May 09, 2017 (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 2017 first quarter ended April 1, 2017. Joseph M. Yorio, President and Chief Executive Officer, stated, “During the first quarter, we saw balanced growth within our Distribution business, as most of our categories were up year-over-year.  Supplies and Furniture, which comprise over 85% of our Distribution revenues, continues to grow and we are seeing steady demand across a number of specialty product categories.  While our Curriculum revenues were down, this was anticipated given fewer Science state adoptions in 2017.  Reading softness appears to be largely timing related.  Booking trends within the category have picked up nicely and we continue to anticipate the category will grow in 2017.  Overall, our top-line outlook for the year is unchanged.  We believe the Company is positioned to generate growth in excess of 2.0% this year, with opportunities to expand across categories and new markets over the coming years, especially as team selling and other initiatives take hold.” Q1 Results (for the three months ended April 1, 2017 and March 26, 2016) Mr. Yorio continued, “We are investing in our infrastructure and upgrading our systems companywide; these investments will not only facilitate a better customer experience and process improvements, but will also enable cost savings and growth.  We are also investing in our people, bringing in the right domain experts to drive both growth and profitability.  While operating income and Adjusted EBITDA are lower for the comparable first quarter, we are generally tracking in line with our plan and our guidance for 2017 remains unchanged.  We have taken steps to strengthen our balance sheet by refinancing our debt and, with the new facilities in place, have more flexibility to execute our strategy, while pursuing appropriate avenues to enhance our competitive position and valuation.  All in all, we expect to deliver on our top and bottom-line objectives in 2017 and look forward to reporting on our progress.” Additional information on the Company’s outlook for 2017 can be found in the investor presentation on pages 18-19, 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 May 11, 2017 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. Interested parties can also participate in the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate in the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 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 Form 10-K for the fiscal year ended December 31, 2016, 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, a non-GAAP financial measure.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; depreciation and amortization expense; amortization of development costs net interest expense; and stock-based compensation. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance.  The Company believes this non-GAAP financial result provides 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 this non-GAAP financial measure 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. In summary, we believe that providing this non-GAAP financial measure 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.


News Article | May 9, 2017
Site: globenewswire.com

GREENVILLE, Wis., May 09, 2017 (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 2017 first quarter ended April 1, 2017. Joseph M. Yorio, President and Chief Executive Officer, stated, “During the first quarter, we saw balanced growth within our Distribution business, as most of our categories were up year-over-year.  Supplies and Furniture, which comprise over 85% of our Distribution revenues, continues to grow and we are seeing steady demand across a number of specialty product categories.  While our Curriculum revenues were down, this was anticipated given fewer Science state adoptions in 2017.  Reading softness appears to be largely timing related.  Booking trends within the category have picked up nicely and we continue to anticipate the category will grow in 2017.  Overall, our top-line outlook for the year is unchanged.  We believe the Company is positioned to generate growth in excess of 2.0% this year, with opportunities to expand across categories and new markets over the coming years, especially as team selling and other initiatives take hold.” Q1 Results (for the three months ended April 1, 2017 and March 26, 2016) Mr. Yorio continued, “We are investing in our infrastructure and upgrading our systems companywide; these investments will not only facilitate a better customer experience and process improvements, but will also enable cost savings and growth.  We are also investing in our people, bringing in the right domain experts to drive both growth and profitability.  While operating income and Adjusted EBITDA are lower for the comparable first quarter, we are generally tracking in line with our plan and our guidance for 2017 remains unchanged.  We have taken steps to strengthen our balance sheet by refinancing our debt and, with the new facilities in place, have more flexibility to execute our strategy, while pursuing appropriate avenues to enhance our competitive position and valuation.  All in all, we expect to deliver on our top and bottom-line objectives in 2017 and look forward to reporting on our progress.” Additional information on the Company’s outlook for 2017 can be found in the investor presentation on pages 18-19, 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 May 11, 2017 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. Interested parties can also participate in the webcast by visiting the Investor Relations section of School Specialty’s website at http://investors.schoolspecialty.com.  For those who are unable to participate in the live conference call and webcast, a replay will be available approximately one hour after the completion of the call. 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 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 Form 10-K for the fiscal year ended December 31, 2016, 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, a non-GAAP financial measure.  Adjusted EBITDA represents net income adjusted for: provision for (benefit from) income taxes; restructuring costs; restructuring-related costs included in SG&A; change in fair value of interest rate swap; depreciation and amortization expense; amortization of development costs net interest expense; and stock-based compensation. The Company considers Adjusted EBITDA a relevant supplemental measure of its financial performance.  The Company believes this non-GAAP financial result provides 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 this non-GAAP financial measure 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. In summary, we believe that providing this non-GAAP financial measure 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.


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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