Scholastic Narrows 2008 Profit Outlook

Scholastic Corp. narrowed its full-year earnings forecast Thursday, remaining within range of Wall Street's expectations.

The children's book publisher now anticipates 2008 net income in a range of $2.50 per share to $2.85 per share. It previously forecast earnings between $2.35 per share and $2.85 per share.

Analysts expect a full-year profit of $2.79 per share, according to a Thomson Financial survey.

Scholastic also lowered its annual sales outlook to a range of $2.2 billion to $2.3 billion, from $2.3 billion to $2.5 billion.