Houghton Mifflin Harcourt reported results for the first quarter of 2013, with the trade unit continuing the upswing from the end of 2012, driven by the acquisition of the Wiley culinary titles “as well as general interest and young readers titles.” HMH Trade sales of $39.8 million were up 25 percent compared to $31.9 million a year, and EBITDA nearly doubled to $6.7 million. (The unit records a high margin in part because HMH accounts separately for “certain general overhead costs not fully allocated to the business units such as legal, accounting, treasury, human resources and C-suite functions” in a […]
