McGraw-Hill Companies Inc. (MHP) reported that its fourth-quarter net income attributable to the company was $167.29 million or $0.53 per share, compared to $115.92 million or $0.37 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter earnings per share in 2009 included a pre-tax gain of $10.5 million, or $0.02 per share from the divestiture of BusinessWeek in December. In the fourth quarter of 2008, diluted earnings per share included a pre-tax restructuring charge of $26.3 million or $0.05 per diluted share.
Revenue increased 3.3% to $1.46 billion, from $1.42 billion in the year ago quarter. Five analysts had consensus revenue estimate of $1.40 billion for the quarter.
The company expects earnings per share of $2.55 to $2.65 in 2010. Analysts expect the company to report earnings of $2.56 per share for fiscal 2010.
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