Houghton Mifflin Harcourt reported first quarter results, with sales of $220 million, down $2 million from a year ago. EBITDA was a negative $15 million, a $9 million improvement from a loss of $24 million in the first quarter of 2017. The operating loss for what is typically their worst quarter was $87 million, also $9 million better than last year’s loss of $96 million, which they attribute to “changes in net sales, cost of sales, and selling and administrative costs.” Sales at the small trade division were up about $200,000, to $36.74 million, with negative EBITDA of ($837,000), compared to ($422,000) a year […]
