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
Houghton Mifflin Harcourt Company Announces Directorate Changes
May 20 15
Houghton Mifflin Harcourt Company announced that at its AGM held on May 19, 2015, shareholders appointed Mr. Jonathan F. Miller as director of the company. The company also announced that Effective May 20, 2015, Sheru Chowdhry resigned as a director of the company pursuant to the terms of the company's amended and restated director nomination agreement with certain of its stockholders affiliated with Paulson & Co. Inc.
Houghton Mifflin Harcourt Company Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015
May 7 15
Houghton Mifflin Harcourt Company reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales were $162,669,000 compared to $153,933,000 a year ago. Operating loss was $130,790,000 compared to $140,152,000 a year ago, due to the aforementioned changes in net sales, cost of sales, and selling and administrative costs. Loss before taxes was $138,964,000 compared to $144,552,000 a year ago. Net loss was $159,940,000 compared to $146,335,000 a year ago, increase primarily due to the timing of the recognition of non-cash deferred income tax. Basic and diluted net loss per share attributable to common stockholders was $1.12 compared to $1.05 a year ago. Net cash used in operating activities was $92,931,000 compared to $102,544,000 a year ago. Additions to property, plant, and equipment were $14,115,000 compared to $14,994,000 a year ago. Adjusted LBITDA was $51,821,000 compared to $53,195,000 a year ago. Free cash flow was $125,275,000 compared to $155,821,000 a year ago.
Houghton Mifflin Harcourt Company Seeks Acquisitions
May 7 15
Houghton Mifflin Harcourt Company (NasdaqGS:HMHC) is seeking acquisitions. Linda Zecher, President and Chief Executive Officer, said, "Within our capital allocation framework, we have outlined our intent to focus on investments in organic growth, the pursuit strategic acquisitions, and the return of value to our shareholders. In recent months, we have taken clear actions to advance each of these three pillars." Zecher added, "Well, we've always been looking at strategic things that we could add to our portfolio, to enhance the value to our shareholders. But as of right now, I am pretty laser-focused on completing the acquisition that we've just made. But obviously, we are constantly looking at other opportunities in the marketplace."