Corporate Profile for Houghton Mifflin, dated Jan. 27, 1995.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases from this client are distributed by Business Wire and also are stored in many popular databases, including Nexis, Dialog, CompuServe, Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News Retrieval, Reuter Company Newsyear, Reuter Textline, Corporate Data Exchange, NewsNet, and others. -0- Published date: Jan. 27, 1995 Company name: Houghton Mifflin Houghton Mifflin Company is a leading educational publisher in the United States. The company's headquarters is located in Boston's Back Bay. It publishes textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers Company Address: 222 Berkeley Street Boston, MA 02116-3764 Telephone No.: 617-351-5000 Chief Executive Officer: Nader F. Darehshori Chief Financial Officer: Stephen O. Jaeger jaeger (yā`gər), common name for several members of the family Stercorariidae, member of a family of hawklike sea birds closely related to the gull and the tern. The skua is also a member of this family. Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Susan E. Hardy Business number: 617-351-5114 Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Contact: Terence J. Heagney Business number: 617-351-5734 Trading symbol Trading symbol See: Ticker symbol : HTN HTN Hypertension HTN High Blood Pressure HTN Hierarchical Task Network HTN Hughes Television Network HTN Hospitality Training Network (Sydney, Australia) HTN Histotechnology (program of study) Industry: Publishing Company description: Houghton Mifflin Co. is a leading publisher of textbooks, software, assessments, and other educational materials for the elementary and secondary school and college markets, as well as an extensive line of reference publications and fiction and nonfiction for adults and young readers. The majority of the comany's revenues are derived from educational publishing. Historically, the company's School Division has had strong english, reading, social studies, and secondary mathematics programs, and it recently added a new elementary mathematics Elementary mathematics consists of mathematics topics frequently taught at the primary and secondary school levels. The most basic are arithmetic and geometry. The next level is probability and statistics, then algebra, then (usually) trigonometry and pre-calculus. program to the list of disciplines in which it publishes. The first-quarter 1994 acquisition of McDougal Littell & Co., a noted secondary school publisher, made Houghton Mifflin the third-largest school textbook publisher in the country. The College Division publishes textbooks in a range of disciplines for the two- and four-year college markets. The Riverside Publishing Co., a provider of standardized and clinical tests, scoring services, and guidance information is a subsidiary of the company. Riverside is the second-largest publisher of clinical/special needs tests. The balance of the company's revenues are provided by the Trade & Reference Division. In March 1994, the company spun off its Software Division as a public company, InfoSoft International Inc. Houghton Mifflin retained a 40 percent minority interest in InfoSoft. Sales of educational materials are cyclical as a result of both purchasing patterns, which are based on the academic year, and the textbook adoption process. Therefore, the company's results are seasonal with operating losses normally reported for the first and fourth quarters. For the year ended Dec. 31, 1994, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $483 million and net income was $51.2 million, or $3.70 per share, including a gain of $1.65 per share realized on the first-quarter 1994 spin-off of the company's Software Division, special charges of $.29 per share for completion of restructuring actions begun in 1991, and an extraordinary item of $.09 per share for early retirement of senior debt. 1994 stock highs/lows were $53/$37.125. CONTACT: Hougton Mifflin Co. Susan E. Hardy, 617/351-5114 |
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