In remarks made to a group of analysts last week, Houghton Mifflin chairman Nader Darehshori said that the company was on track to reach its goals of hitting $1 billion in sales and an operating margin of 17% by 2000. Sales in 1998 are expected to be in the $855 million-$865-million range, and Darehshori predicted that revenues in 1999 will increase 7%-8%.

Darehshori told analysts HM is "well positioned to take advantage of what is now a very favorable environment for the educational materials marketplace," adding that the company is looking beyond its traditional markets to achieve long-term growth.