February 22, 2018 / 12:22 PM / 6 months ago

BRIEF-Houghton Mifflin Harcourt Q4 Sales $261 Mln

Feb 22 (Reuters) - Houghton Mifflin Harcourt Co:

* SEES FY 2018 SALES $1.35 BILLION TO $1.43 BILLION

* ‍CONTENT DEVELOPMENT SPEND FOR 2018 IS EXPECTED TO BE IN RANGE OF $125 TO $150 MILLION​

* SEES ‍2018 TOTAL CAPITAL EXPENDITURES INCLUDING NON-PLATE CAPITAL EXPENDITURES IN RANGE OF $185 TO $210 MILLION​

* HOUGHTON MIFFLIN HARCOURT - ‍CONTINUES TO IMPLEMENT ITS ONGOING INITIATIVES TO IMPROVE COMPANY’S OPERATIONAL EFFICIENCY AND RIGHT-SIZE ITS COST STRUCTURE​

* ‍ORGANIZATIONAL DESIGN CHANGES, AIMED AT REDUCING COMPLEXITY IN ORGANIZATION, WERE LARGELY COMPLETED BY MAY 2017​

* ‍HMH EXPECTS TO SUBSTANTIALLY COMPLETE REMAINING PLANNED ACTIONS BY END OF 2018​

* HOUGHTON MIFFLIN HARCOURT - ‍IDENTIFIED INITIATIVES ARE EXPECTED TO RESULT IN ABOUT $70 MILLION TO $80 MILLION IN ANNUALIZED COST SAVINGS BY END OF 2018​

* QTRLY ‍NET SALES $260.5 MILLION VERSUS $241.8 MILLION ​

* Q4 EARNINGS PER SHARE VIEW $-0.90, REVENUE VIEW $248.3 MILLION — THOMSON REUTERS I/B/E/S

* FY2017 REVENUE VIEW $1.39 BILLION — THOMSON REUTERS I/B/E/S

* ‍HMH EXPECTS 2018 BILLINGS TO BE IN RANGE OF $1.365 TO $1.445 BILLION​

* HOUGHTON MIFFLIN -EXPECT INITIATIVES WILL RESULT IN TOTAL CHARGES OF $45 MILLION TO $49 MILLION, OF WHICH $35 MILLION TO $39 MILLION ARE ESTIMATED TO BE CASH CHARGES​ Source text : (bit.ly/2oozyCp) Further company coverage:

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