Press Release: Houghton Mifflin Harcourt Reports Significant Revenue Growth in Q2 Earnings Report
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Cost of Sales: Cost of sales, excluding pre-publication and publishing rights amortization, for the second quarter of 2014 were $167 million, up $8 million, or 5% as compared with $159 million for the same period in 2013. Cost of sales, excluding pre-publication and publishing rights amortization, as a percentage of sales decreased to 42% compared with 44% in the second quarter of 2013. This favorable shift is the result of the mix of basal programs sold carrying low product cost which have benefitted from economies of scale of large print runs, slightly offset by an increase in royalties.
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