Houghton Mifflin Harcourt continued their string of disappointing results on Thursday morning, reporting poor fourth quarter earnings. Net sales of $242 million were down $56 million (or 19 percent) from a year ago. The continuing trouble at their legacy basal and supplemental education business helped lead to an operating loss of $251 million, $174 million more in losses than a year ago. The company took a $139 million non-cash impairment charge, “the result of our strategic decision to emphasize our world-leading HMH brand over legacy brands such as Holt McDougal and various supplemental brands.” With the help of tax benefits, […]
