Let op , dit was het laatste bericht van McGraw-Hill. Hier zullen ze mee vergeleken worden.
Wat een angsthazen, de beurs is zo bang dat zelfs goede cijfers tot koersdaling zal leiden.
NEW YORK, Oct. 26 /PRNewswire-FirstCall/ -- The McGraw-Hill Companies (NYSE: MHP) today reported diluted earnings per share of $1.07 for the third quarter of 2009 compared to $1.23 last year, which included an after-tax restructuring charge of $0.05 per diluted share. Net income for the third quarter decreased 13.9% to $336.1 million versus the same period last year. Revenue declined 8.4% to $1.9 billion.
"Our third quarter was marked by sharp contrasts in key markets," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies.
Education: "We produced good growth in the U.S. college and university market while the elementary-high school market declined."
Financial Services: "Standard & Poor's Credit Market Services registered the first quarterly increase in revenue since the third quarter of 2007 as corporate issuance offset continuing weakness in structured finance."
Information & Media: "Platts, our worldwide energy information service, again turned in solid results, but only partially offset declines in print and television advertising.
"Cost containment remains a priority. In the third quarter, including the impact of a $23.4 million pre-tax restructuring charge last year, we reduced total costs and expenses by 5.4% despite a $68 million increase in incentive compensation after substantial reductions in 2008."
Education: Revenue for this segment in the third quarter declined by 11.6% to $1.0 billion compared to the same period last year. Operating profit decreased by 15.9% to $298.1 million versus $354.7 million last year, which included a restructuring charge of $5.4 million. Foreign exchange rates reduced revenue by $11.4 million and operating profit by $4.9 million.
Revenue for the McGraw-Hill School Education Group declined 19.6% to $501.3 million. Revenue for the McGraw-Hill Higher Education, Professional and International Group decreased by 1.8% to $498.7 million compared to the same period last year.
Based on sales results through the third quarter, when most ordering for the fall term has been completed, McGraw-Hill School Education expects to capture more than 30% of the total available dollars in a 2009 state new adoption market that deteriorated all year as budgetary pressures led a growing number of school districts to postpone purchases. The major postponements occurred in California's first-year K-8 reading adoption and second-year K-8 math adoption, which together had represented this year's largest potential. However, postponements also had a significant impact on revenue opportunities in Florida's 6-12 literature and K-12 music adoptions and in several smaller states including Kentucky and Oregon.