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August 29, 2015 9:58 PM ET

Diversified Consumer Services

Company Overview of Houghton Mifflin Harcourt Company

Company Overview

Houghton Mifflin Harcourt Company provides education solutions for educational institutions and consumers worldwide. It delivers content, technology, and services 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 professional ...

222 Berkeley Street

Boston, MA 02116

United States

3,300 Employees

Phone:

617-351-5000

Key Executives for Houghton Mifflin Harcourt Company

Chief Executive Officer, President and Director
Age: 62
Total Annual Compensation: $932.7K
Chief Financial Officer and Executive Vice President
Age: 60
Total Annual Compensation: $574.3K
Executive Vice President of US Sales
Age: 50
Total Annual Compensation: $400.0K
Chief Content Officer and Executive Vice President of Corporate Affairs
Age: 48
Total Annual Compensation: $325.0K
Chief Technology Officer and Executive Vice President
Age: 37
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2014.

Houghton Mifflin Harcourt Company Key Developments

Houghton Mifflin Harcourt Company Mulls Acquisitions

Houghton Mifflin Harcourt Company (NasdaqGS:HMHC) is seeking acquisitions. Eric Shuman, Chief Financial Officer of Houghton Mifflin Harcourt, said, “The share repurchase program aligns with HMH’s broader capital allocation strategy, which focuses on driving organic growth, pursuing strategic acquisition opportunities and returning capital to stockholders, when appropriate.”

Houghton Mifflin Harcourt Company Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revised Earnings Guidance for the Fiscal 2015

Houghton Mifflin Harcourt Company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales declined 5% to $380 million compared with $402 million in the second quarter of 2014. The company recorded a net loss of $0.06 per diluted share against a $0.08 per diluted share gain a year prior. Net loss was $8 million in the second quarter of 2015 compared to net income of $12 million in the same quarter of 2014 primarily due to the same factors impacting operating loss as well as a $2 million increase in interest expense, a $2 million loss on the extinguishment of debt, and an $11 million income tax benefit in the second quarter 2015 compared to a $2 million income tax expense in the same period last year. Operating loss was $11.18 million against income of $18.32 million a year ago. Loss before taxes was $19.15 million against income of $13.72 million a year ago. Adjusted EBITDA was $79.656 million against $109.239 million a year ago. Adjusted cash EBITDA was $135.797 million against $223.008 million a year ago. For the six months, the company reported net sales were $542.55 million against $555.82 million a year ago. Operating loss was $141.97 million against $121.83 million a year ago. Loss before taxes was $158.1 million against $130.83 million a year ago. Net loss was $167.68 million or $1.19 diluted per share against $134.79 million or $0.96 diluted per share a year ago. Net cash used in operating activities was $134.8 million against $132.107 million a year ago. Additions to property, plant, and equipment were $31.356 million against $31.144 million a year ago. Adjusted EBITDA was $27.83 million against $56.04 million a year ago. Adjusted cash EBITDA was $69.23 million against $160.37 million a year ago. Following the EdTech acquisition, the company has revised its 2015 annual guidance on billings, net sales, pre-publication or content development costs. The company now expects 2015 billings to be 2% to 6% higher than the 2014 billings of $1,602 million and total net sales in 2015 to increase by 9% to 12% over 2014 net sales of $1,372 million.

Houghton Mifflin Harcourt and WGBH Sign Co-Production Agreement for Gossie & Friends Television Series

Houghton Mifflin Harcourt and WGBH announced a co-production agreement for the creation of a television and cross-platform series based on the Gossie & Friends book series, published by HMH and written and illustrated by Olivier Dunrea. HMH and WGBH will partner to pursue a domestic broadcasting arrangement for the series, as well as international co-production financing. The series will emphasize social emotional learning, which is a critical curriculum area for the preschool audience of two-to-five year olds. With more than one million copies sold globally across all formats, the Gossie & Friends series is the story of a band of inquisitive goslings who navigate common childhood concerns, such as new siblings, sharing, and lost toys. Launched in 2002 with the publication of Gossie and Gossie & Gertie, the series has since grown to nineteen titles, has been reviewed by People Magazine, the New York Times Book Review, and the Huffington Post, among others, and been recommended by Parenting Magazine as a "must have" book for babies. The Gossie & Friends television series will be developed by Carol Greenwald and Dorothea Gillim, executive producer of Curious George, with Gillim as executive producer.

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