Houghton Mifflin Harcourt Company provides education solutions for educational institutions and consumers worldwide. It delivers content, technology, services, and media to approximately 50 million students. The company operates in two segments, Education and Trade Publishing. The Education segment develops, publishes, and markets various comprehensive curriculum programs that focus on reading, literature and language arts, mathematics, science, world languages, and social studies for the pre-K-12 market; and comprehensive intervention solutions for assisting English language learners, as well as products providing incremental instruction in a particular subject area. It also provides Heinem...
222 Berkeley Street
Boston, MA 02116
Houghton Mifflin Harcourt Company Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-11-2014 08:00 AM
Sep 8 14
Houghton Mifflin Harcourt Company Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-11-2014 08:00 AM. Venue: Conrad New York: 102 North End Avenue, New York, NY 10281, United States. Speakers: Linda K. Zecher, Chief Executive Officer, President and Director.
Houghton Mifflin Harcourt Company Presents at BMO Capital Markets 14th Annual Back to School Education Conference, Sep-18-2014
Aug 19 14
Houghton Mifflin Harcourt Company Presents at BMO Capital Markets 14th Annual Back to School Education Conference, Sep-18-2014. Venue: Grand Hyatt Hotel, New York, New York, United States. Presentation Date & Speakers: Sep-18-2014, Eric L. Shuman, Chief Financial Officer and Executive Vice President, Linda K. Zecher, Chief Executive Officer, President and Director.
Houghton Mifflin Harcourt Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Asset Impairment Charges for the Second Quarter of 2014
Aug 14 14
Houghton Mifflin Harcourt Company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $401,890,000 compared to $362,951,000 a year ago. This increase was driven by a 13%, or $41 million, year-over-year rise in the company's education sales to $365 million from $324 million, as domestic education basal sales grew $47 million on increased adoptions primarily in Texas, and to a lesser extent, California and Florida. Operating income was $18,324,000 compared to operating loss of $5,639,000 a year ago. The $24 million increase is primarily due to the aforementioned increase in net sales, improvement in gross margin, and lower impairment costs, and a reduction in net amortization expense related to publishing rights, pre-publication and other intangible assets due to HMH’s use of accelerated amortization methods. Income before income tax was $13,724,000 compared to loss before income tax of $11,864,000 a year ago. Net income was $11,548,000 or $0.08 per basic and diluted share compared to net loss of $14,266,000 or $0.20 per basic and diluted share a year ago, primarily due to the same drivers impacting operating income as well as lower interest expenses resulting from the company’s debt re-financings. Adjusted EBITDA was $109,239,000 compared to $97,149,000 a year ago.
For the six months period, the company reported net sales of $555,823,000 compared to $529,545,000 a year ago. Operating loss was $121,828,000 compared to $134,628,000 a year ago. Loss before income tax was $130,828,000 compared to $147,290,000 a year ago. Net loss was $134,787,000 or $0.96 per basic and diluted share compared to $151,647,000 or $2.17 per basic and diluted share a year ago. Net cash used in operating activities was $132,107,000 compared to $152,768,000 a year ago, the $21 million improvement is primarily due to working capital changes. Additions to property, plant, and equipment were $31,144,000 compared to $31,213,000 a year ago. Adjusted EBITDA was $56,044,000 compared to $64,707,000 a year ago.
The company reported asset impairment charges of $1,279,000 for the second quarter of 2014 compared to $8,500,000 a year ago.