From Jim Metrock: (February 26, 2015)
This week Houghton Mifflin Harcourt (HMHC) announced they lost $83.7 million in their fourth quarter. For the year they lost $111.5 million.
Wall Street analysts predicted HMHC to post a quarterly loss of 28 cents per share, but the loss was 59 cents.
Houghton Mifflin’s purchase of Channel One last year doesn’t appear to be helping its bottom line. Only passing mention was made of Channel One during CEO Linda Zecher’s webcast earning report. Although Ms. Zecher had a perfect opportunity to report on favorable progress with Channel One’s efforts to sell subscriptions to their digital content, there was no mention of Channel One subscriptions generating any revenue. Obligation presumes schools are continuing to end their contracts for Channel One’s main product: the in-school TV show Channel One News.
