Houghton Mifflin Harcourt reported second quarter 2014 sales of $402 million, up 11 percent, though trade sales for the period fell $2 million (or 5 percent) to $37 million, “as the prior year benefitted from strong net sales of backlist titles associated with the theatrical releases of the movies The Hobbit and Life of Pi.” The company expects the film version of Lois Lowry’s The Giver “could provide ongoing tie-in sales in the coming quarters.” Trade’s adjusted EBITDA was much lower, down $3 million to $2 million. Companywide, HMH had adjusted EBITDA of $109 million, and net income of $12 […]
