MHP announced that its Q4 2010 earnings was $153.8 million, or 50 cents per share, down 8% compared to $167.3 million, or 53 cents per share, a year earlier. The company was negatively affected by one time charges due to restructuring and acquisition related costs. Excluding these charges, the company earned 55 cents per share. The company's revenue increased by 4%, to $1.52 billion, due to strength in its financial services segment.
MHP announced that its Q3 2010 earnings were $380 million, or $1.23 per share, an increase of 13% compared to $336 million, or $1.07 per share in the prior year quarter. The comopany's revenue increased by 5.5% due to strong sales in its education and financial services segments.
MHP announced that it was named to the Dow Jones Sustainability Indexes (DJSI) in recognition of its commitment to superior sustainable development in its business operations. The DJSI was formed in 1999 by the Dow Jones Indexes and an investment boutique focused on sustainable investing called SAM. Only 10% of the world's largest corporations are selected for the DJSI.
MHP reported that its Q2 2010 earnings were $191.1 million, or 61 cents per share, up 16% from $164.1 million, or 52 cents per share, in the same period a year earlier. Sales for the quarter were flat. The company also announced that due to "choppiness in some of our key markets," it expects 2010 earnings to come in at the low end of its previous guidance range of $2.55 to $2.65 per share.
MHP announced that its first quarter earnings was $103.3 million, or 33 cents per share, a 64% increase compared to the $63 million, or 20 cents per share, it earned a year earlier. Growth was driven by the company's Higher Education business as well as its Credit Information Service business. Revenue for the quarter increased 4%.
MHP announced that its Q4 2009 earnings rose 44.3% from $116 million in Q4 2008 to $167 million this quarter. This was the first time since Q3 2007 that the company has posted an increase in EPS. Growth was attributed to a 3.3% increase in total revenue for the quarter.
MHP's Q3 2009 earnings fell 14% from $390 in the prior year quarter to $336 million in 2009. The company earned $1.07 per share, which was two cents better than analysts had predicted.
MHP sold BusinessWeek, a magazine that it had been producing for nearly 8 decades, to Bloomberg for around $5 million.
A judge ruled that MHP's rating agency over ratings they assigned to certain investments. The compnay, along with Moody's and Morgan Stanley, face a lawsuit from King Country in Washington State and Abu Dhabi Commercial Bank claiming that the agencies hid the risk of investing in a fund that purchased bonds backed by subprime mortagages.
In FY2008, MHP's net income decreased 21.1% to $799.5 million, and EPS was $2.54 compared to $2.94 for 2007. However, MHP's Investment Services division as well as the K-12 School Education division produced double-digit revenue gains in 2008, which cushioned the effect of the soft retail environment and recessionary pressures in 2008. Outlook on 2009 remains positive as MHP has taken many cost reduction strategies in 2008, aiming for better performance in 2009.
McGraw-Hill announces 15M share buyback, sending the stock higher.
MHP profit doubles on strong results from S&P thanks to rising credit demand.
Morningstar (MORN) acquires S&P's mutual fund database in a transaction with undisclosed terms.