Houghton Mifflin Harcourt Q4 Loss Widens

(RTTNews) - Houghton Mifflin Harcourt Company (HMHC) posted fourth-quarter net loss of $64.7 million or $0.46 per share, wider than $34.2 million or $0.24 per share in the comparable quarter last year.

Net sales for the latest fourth quarter rose 7% to $298.88 million from $282.20 million in the year-ago period.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.95 per share on revenues of $550.15 million.

Looking ahead to fiscal 2014, the company expects total net sales to increase by 5% to 8% over 2013 revenues of $1.38 million. Analysts now expect revenues of 7.70% in fiscal 2014.