Houghton Mifflin Harcourt reported third quarter earnings on Thursday morning, with sales just above flat at $551 million, and net income also just above flat at $107 million. In trade, sales of just above $46 million “increased slightly” compared to a year ago, “reflecting strong tie-in book sales following the release of The Giver by Lois Lowry” as a movie (and inclusion in Kindle Unlimited). “Strong frontlist” sales that also included Randall Munroe’s What If? “were partially offset by a higher reserve for returns.” But adjusted trade EBITDA declined 16% or $1.4 million, to $7.2 million for the period. (HMH […]
