Earnings: McGraw-Hill Q4 Income Slides 31.3 Percent; BW.com Revs Up 10.5 Percent

McGraw-Hill (NYSE: MHP), parent company of BusinessWeek and Standard & Poor’s, did Q4 revenue of $1.56 billion, down 1.5 percent from $1.59 billion in the previous year’s quarter. Net income fell by 31.3 percent ($.43/share) to $140 million, from $204 million ($.56/share), due to restructuring costs and weakness at its financial services business. At its Information & Media unit, the company did revenue increased 3.6 percent to $282.1 million from, although profits declined 6.1 percent to $20.2 million, which included a previously announced $6.7 million restructuring charge. Some highlights:

— Ad revenue at BusinessWeek.com grew 10.5 percent in the quarter and 14.8 percent for the full-year 2007.
— Print ad pages at BusinessWeek fell by 21.8 percent in the quarter and 18.2 percent for the year.
— Information & Media revenue is expected to grow revenue between 6-8 percent for the coming year.

Release | Webcast | Transcript (via SeekingAlpha)


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