School Specialty Inc. (Nasdaq:SCHS) reported fiscal 2012 second quarter and year-to-date financial results. Because of the company's seasonality and the extra week in the prior year, operating results are more accurately evaluated over the full six-month period. Revenue for the first six months of fiscal 2012 was $527.5 million, compared with $544.9 million in the first six months of the prior year, a decline of 3.2 percent. Earnings before interest, tax, depreciation and amortization ("EBITDA") totaled $71.7 million compared with $85.2 million in the previous year. Net income was $22.4 million or $1.18 per diluted share in the first six months of fiscal 2012, compared with a net loss in the first six months of last year of $313.5 million, or $16.62 per share. Excluding net of tax impairment charges of $344.9 million or $18.28 per share last year, earnings per share were $1.66 in the first six months of the prior year.

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