Book publisher McGraw Hill Companies (MHP) will publish its third-quarter results before the market opens today, with analysts projecting earnings of $1.05 per share on revenues of $1.94 billion. In the third quarter of fiscal 2008, the company earned $1.23 per share, on revenues of $2.0 billion.
McGraw-Hill Companies provides information services in sectors like financial services, education and business information markets. It's most famous brands include BusinessWeek, Standard & Poor's, McGraw-Hill Education, and J.D. Power and Associates.
While releasing second-quarter results, the company trimmed the top-end of its prior earnings forecast for fiscal 2009 to $2.20 - $2.25 per share from the prior range of $2.20 - $2.30 per share, citing weakening market conditions in advertising and school education.
The company also said that it anticipates full-year 2009 revenues to decline 5.5% - 6.5% year-on-year, reflecting revenues between $5.95 billion and $6.01 billion. Earlier, the company had projected a revenue decline of 4.0% - 5.0%.
For the preceding second quarter, the New York-based owner of credit rating agency Standard & Poor's posted second-quarter net income of $164.09 million or $0.52 per share, down from $212.29 million or $0.66 per share in the year-ago quarter, hurt by lower revenues across all business segments as well as restructuring charges. Revenues for the quarter declined 12.4% to $1.47 billion from $1.67 billion in the same quarter of last year.
Among McGraw Hill's rivals, Moody's Corp. (MCO) will issue forth its third-quarter numbers before the market opens on October 29, with analysts expecting earnings of $0.38 per share on revenues of $417.18 million. In the year-ago quarter, the company posted adjusted earnings of $0.45 per share on revenue of $433.4 million. Moody's raised its fiscal 2009 earnings outlook to a range of $1.45 - $1.55 per share from the prior range of $1.40 - $1.50 per share, reflecting stronger performance in the first half.
British education and media company Pearson Plc (PSO,PSON.L) posted a 20% growth in its sales and 19% rise in operating profit for the first nine months of fiscal 2009. The company said it currently expects full-year adjusted earnings to be at or above 60 pence per share, assuming that the current exchange rate of £1 : $1.64 prevails in the fourth quarter. Earlier, Pearson had projected fiscal 2009 adjusted earnings at or above the 2008 level of 57.7 pence per share.
McGraw Hill shares, which have been trading between $17.22 and $34.10 in the past 52 weeks, closed Friday's trading session at $30.49, down 13 cents or 0.42%.
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