Sales fell at Houghton Mifflin Harcourt in the first quarter of 2014, primarily because of an $8 million decline in the trade division, which had strong movie tie-in sales for The Hobbit and Life of Pi in 2013, but also because of “book store sales declines attributable to the severe winter weather conditions across the country.” As a result, the trade division recorded a net loss of $5.2 milion, and adjusted EBITDA of a loss of $1.3 million — compared to an EBITDA gain of $6.7 million a year go. Trade sales were $32 million for the period. Companywide, HMH […]
