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March 27, 2015 5:09 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: 61
Total Annual Compensation: $2.2M
Chief Financial Officer and Executive Vice President
Age: 59
Total Annual Compensation: $667.3K
Executive Vice President of US Sales
Age: 49
Total Annual Compensation: $433.7K
Chief Content Officer and Executive Vice President of Corporate Affairs
Age: 47
Total Annual Compensation: $325.0K
Chief Technology Officer and Executive Vice President
Age: 36
Total Annual Compensation: $264.4K
Compensation as of Fiscal Year 2013.

Houghton Mifflin Harcourt Company Key Developments

Houghton Mifflin Harcourt Company Reports Unaudited Consolidated Earnings Results for Fourth Quarter and Year Ended December 31, 2014; Provides Sales Outlook for the Year 2015

Houghton Mifflin Harcourt Company reported unaudited consolidated earnings results for fourth quarter and year ended December 31, 2014. For the quarter, the company’s net sales were $265,485,000 against $298,877,000 a year ago. Operating loss was $79,734,000 against $59,552,000 a year ago. Loss before tax was $84,658,000 against $64,293,000 a year ago. Net loss was $83,734,000 against $64,651,000 a year ago. Basic and diluted loss per share was $0.59 against $0.46 a year ago. Adjusted EBITDA was $9,052,000 against $54,817,000 a year ago. The decline in Net Sales were primarily due to a large prior year sale that did not repeat in the fourth quarter of 2014, partially offset by strong product sales from its core programs, international, Heinemann intervention and assessment. The change in operating loss was due to changes in net sales, cost of sales, and selling and administrative costs. The change in net loss was primarily due to the same drivers impacting operating loss. For the year, the company’s net sales were $1,372,316,000 against $1,378,612,000 a year ago. Operating loss was $85,411,000 against $86,645,000 a year ago. Loss before tax was $105,249,000 against $108,839,000 a year ago. Net loss was $111,491,000 against $111,186,000 a year ago. Basic and diluted loss per share was $0.79 against $0.79 a year ago. Net cash provided by operating activities was $491,043,000 against $157,203,000 a year ago. Additions to property, plant, and equipment were $67,145,000 against $59,803,000 a year ago. Adjusted EBITDA was $265,383,000 against $325,018,000 a year ago. The rise in Education segment Net Sales were largely driven by a $13 million increase in sales from the Heinemann business, primarily related to the Leveled Literacy Intervention product line, as well as a $13 million increase in higher assessment net sales, which was related to the release of the latest version of the Woodcock Johnson program and higher direct-to-consumer sales. The change in operating loss was due to the aforementioned net sales, cost of sales, and selling and administrative costs. Additionally, there was a $7 million reduction in amortization expenses related to other intangible assets as well as a $7 million reduction in impairment costs compared to 2013. The change in net loss was primarily due to the same drivers impacting operating loss. The change in adjusted EBITDA was primarily due to higher variable costs such as commissions and labor related costs associated with higher billings. The $334 million improvement in cash flows was primarily a result of higher billings leading to favorable working capital. The company expects total net sales in 2015 to increase by 2% to 5% over 2014 net sales of $1,372 million benefitting from recognition of previously deferred revenue.

Houghton Mifflin Harcourt Company to Report Q4, 2014 Results on Feb 26, 2015

Houghton Mifflin Harcourt Company announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 26, 2015

Houghton Mifflin Harcourt Company, Q4 2014 Earnings Call, Feb 26, 2015

Houghton Mifflin Harcourt Company, Q4 2014 Earnings Call, Feb 26, 2015

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