Lee Enterprises Recognizes Racine Union

Learning technology company HMH today announced that HMH President & CEO, Jack Lynch, has been named “EdTech Company CEO of the Year” in the 5th annual EdTech Breakthrough Awards program conducted by EdTech Breakthrough, a leading market intelligence organization that recognizes the top companies and solutions in the global edtech market. Under Lynch’s leadership, HMH has undergone a strategic transformation to a digital-first, connected learning company that engages learners, empowers educators and improves student outcomes. In less than six years, he has executed on key changes that have set HMH up for success as a K-12 technology company, from the divestiture of its Books and Media division in 2021, to HMH’s sale to Veritas Capital in 2022, which puts the organization in an even stronger position to increase its positive impact on millions of students and teachers. Supporting this goal, most recently Lynch led HMH's acquisition of assessment and research organization NWEA, bringing the potential to further transform the K-12 education experience for teachers and students.

Additional second quarter service performance scores covering Jan.1 through Feb. 4 included: *First-Class Mail: 86.1 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 3 percentage points from the fiscal first quarter. *Marketing Mail: 90.9 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of 1.3 percentage points from the fiscal first quarter. *Periodicals: 79.5 percent of Periodicals delivered on time against the USPS service standard, a decrease of 1.4 percentage points from the fiscal first quarter.

Net revenues were $199.7 million, a 4% year-over-year increase. Shutterfly Consumer net revenues totaled $152.1 million, a 5% year-over-year decrease which was consistent with the Company's expectations of a mid-single digit decline in the first quarter of 2018 as indicated on prior earnings calls. Shutterfly brand growth was supported by strong performance in Photo Books as well as the Wedding Shop, which was launched in the third quarter of 2017, and was offset by anticipated revenue declines in the non-Shutterfly brands due to the platform consolidation and the brand shutdowns over the course of 2017. Shutterfly Business Solutions net revenues totaled $47.7 million, a 52% year-over-year increase. GAAP operating loss totaled $34.1 million and net loss was $27.2 million or a $0.83 loss per share. Adjusted EBITDA was $7.1 million, a $9.0 million year-over-year increase primarily due to growth in the Shutterfly brand and the benefits of the platform consolidation and restructuring. Click Read More below for additional information.