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Strong Start For Houghton
-- 5/1/00

Houghton Mifflin began 2000 with a strong first quarter, in which revenues rose 16.9%, to $98.5 million, for the period ended March 31. The best performing division was HM's k-12 segment, where sales jumped 20.1%, to $62.4 million. The segment benefited from higher spending in California as well as the addition of Sunburst Technology, which was acquired in last year's second quarter.

Strong sales in the trade and reference division helped boost total revenues in the other segment to $20.7 million, an 18.7% increase. College division sales were up 3.5%, to $15.4 million. The increase in HM's net loss--to $39.4 million from $37 million--in the first quarter of 1999 was attributed to higher sales and editorial costs associated with the development and marketing of new programs for 2000 and 2001.
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