School Specialty net income up 49%, buys Premier School Agendas

Educational supplies giant School Specialty (Nasdaq: SCHS) reported net income of $19.3 million for the quarter ended Oct. 27, up 49% from $12.9 million for the comparable quarter of 2000. Revenue rose 12%, to $269.7 million from $240.5 million last year. The company credits the top-line and bottom-line increases to its successful integration of the wholesale division of J.L. Hammett Co., which it acquired in November 2000.

In other news, the Greenville, WI-based multititle mailer signed a definitive agreement to acquire $80 million Premier School Agendas, a Bellingham, WA-based subsidiary of Franklin Covey. Premier School sells academic planners that can be customized for specific school districts, schools, or even students.

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