Managing costs in weaker state new adoption market this year
Costs declined 6% in 3Q compared to same period last year
- Reflect $5.6 million pre-tax restructuring charge and $3.4 million for incremental stock-based compensation expenses
Key actions to manage costs
- Sharply curtailed hiring in anticipation of restructuring in basal publishing business
- Cut marketing and sampling costs
- Higher level of operational efficiency from Global Transformation Platform