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Learning company Houghton Mifflin Harcourt (“HMH” or the “Company”) (Nasdaq: HMHC) today announced its financial results for the year ended December 31, 2018.
•Results in-line with 2018 guidance1 for second consecutive year
•Next Generation Core programs launched; 2019 adoption selling season underway
•Portfolio enhanced with strategic partnerships and divestiture of Riverside Standardized Testing business
•Education segment outperforms market, driven by Extensions billings growth of 8%
•Trade year over year growth of 11%, driven by Orwell agreement and relaunch of iconic Carmen Sandiego brand
“During 2018, we took important steps towards optimizing our product portfolio while also preparing for the larger adoption opportunities in 2019,” said Jack Lynch, President and Chief Executive Officer of HMH. “We remain focused on executing against our long-term strategy, and believe we are well positioned to deliver long term growth.”
Joe Abbott, Chief Financial Officer of HMH added, “We delivered on our guidance for 2018, and our Education segment outperformed the market in a trough year due to strong growth in our Extensions offerings. This growth, as well as our improved profitability and free cash flow, demonstrates progress made in executing our long-term strategy.”
details at: https://www.hmhco.com/about-us/press-releases/hmh-announces-2018-results