Houghton Miff (HMHC) Posts Q1 Loss of $1.05/Share

Houghton Miff (NASDAQ: HMHC) reported Q1 EPS of ($1.05), $0.19 worse than the analyst estimate of ($0.86). Revenue for the quarter came in at $153.93 million versus the consensus estimate of $171.67 million.

First Quarter Business Highlights:

• Education segment: HMH remains well-positioned to capitalize on the growing adoption market, and in the first quarter it was identified as the content provider for approximately 50% of school districts that announced content provider selections. These decisions are expected to lead to contracts within some of the largest U.S. states, including California, Florida and Texas. HMH programs GO Math! and ScienceFusion were recently selected by key districts across Texas, which represents a user base of 1.5 million students. The Company also had solid performance in open territories, especially within the grade 9-12 segment in California, New York, Michigan and Puerto Rico.
• Trade Publishing segment: First quarter performance within the Trade Publishing segment faced a tough comparison following the success of the Hobbit and Life of Pi movies in late 2012 and early 2013. HMH continues to optimize its beloved brands for digital platforms as well as expand upon its title lineup, including the recently acquired rights to BEOWULF: A Translation and Commentary, a previously unseen work by J.R.R. Tolkien, to ensure a strong pipeline for future revenue growth.
• New Product Releases: HMH further built upon its strategy to leverage classroom content to strengthen its direct-to-consumer offering, recently launching Go Math! Academy, a subscription-based, online program that extends the learning continuum into the home. Early conversion rates from visits to trial starters as well as a strong response to social media promotion are positive indicators that the product possesses strong growth potential.

For earnings history and earnings-related data on Houghton Miff (HMHC) click here.

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