Highlights for the fourth quarter: • In VerticalScope's first full quarter following Torstar's investment on July 28, 2015, VerticalScope grew their U.S. dollar adjusted EBITDA (see “Non-IFRS measures”) by 22.4% relative to the comparable period in 2014. • Subsequent to the end of 2015, we announced the transition of printing of the Toronto Star to Transcontinental Printing which is expected to commence in July 2016. Also in connection with this decision, we have commenced exploration of the sale of the existing printing facility and land in Vaughan. • Ended 2015 with total cash and cash equivalents and restricted cash of $73.1 million. Subsequent to the end of the year, $22.8 million of restricted cash was released on the expiry of the Harlequin escrow. • Our net loss from continuing operations was $233.4 million ($2.90 per share) in the fourth quarter of 2015. This compares to net income of $20.9 million ($0.26 per share) in the fourth quarter of 2014.
For the fiscal third quarter, the Company expects to report(1) net sales of $563 million, and expects year-to-date net sales of $1,147 million. Third quarter cash flow from operating activities are expected to be $393 million, resulting in expected year-to-date cash flow from operating activities of $127 million. Additionally, third quarter 2019 key metrics are estimated as follows:
•Third quarter billings are expected to be $746 million, representing record growth of 30%, driven by expected Core Solutions billings growth of 50%, and expected Extensions billings growth of 25% compared to Q3’18;
•Third quarter free cash flow expected to be $358 million, resulting in expected year-to-date free cash flow of $18 million, positioning the Company to report strong positive free cash flow for the full year 2019;
•Cash and cash equivalents expected to be $309 million as of September 30, 2019.
more detail at: https://www.hmhco.com/about-us/press-releases/hmh-q3-2019-preliminary-results