Houghton Mifflin Harcourt reported flat second quarter sales at $393 billion, as billings declined by $17 million. In what is seasonally a weak quarter, they had a higher net loss of ($46.9 million), compared to ($28.4 million) a year ago, and a bigger operating loss, $10 million higher at $31 million. The restructuring plan that saw significant layoffs in May cost $33 million during the quarter — including $14 million for severance and termination benefits. Trade sales were $42.4 million for the quarter, up from $38.7 million a year ago, rising 9.8 percent, andattributed to “Papi and the latest edition […]
