Press Release: Houghton Mifflin Harcourt Reports Significant Revenue Growth in Q2 Earnings Report
Cash Flow: Net cash used by operating activities for the six months ended June 30, 2014 was $132 million as compared to $153 million for the same period in 2013. The $21 million improvement is primarily due to working capital changes. For the six months ended June 30, 2014, the Company had $193 million of cash and cash equivalents and short term investments compared with $213 million for the same period in 2013. Operating cash flows are impacted by the inherent seasonality of the academic calendar. Consequently, the performance of the businesses is difficult to compare quarter to consecutive quarter and should be considered on the basis of results for the whole year.