Houghton Mifflin Harcourt Co. (HMHC) Thursday reported a wider net loss for the first quarter. The company, however, reaffirmed its guidance for 2014.
For the three months to March, net loss widened to $146.33 million or $1.05 per share, from $137.38 million or $0.98 per share a year earlier.
On average, 7 analysts polled by Thomson-Reuters estimated the company's loss to be $0.86 for the quarter. Analysts' estimates typically exclude one-time items.
Adjusted EBITDA loss stood at $53.19 million, compared with a loss of $32.44 million a year ago.
Net sales for the period declined to $153.93 million from $166.59 million in the same quarter last year.
by RTT Staff Writer
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