McGraw-Hill (NYSE:MHP), it seems to me, is one of those interesting media companies that has carved for itself a niche -- or group of niches -- that render it a far more attractive investment vehicle than many of its less imaginative or less fortunate peers. I think the company proved as much when it released the results of its first quarter on Tuesday.

For the quarter, the company earned $143.8 million, a 94% increase from the $74.2 million generated in the first quarter of 2006. At the same time, with something of a reduction in its number of shares outstanding, diluted per-share earnings doubled to $0.40 from $0.20 a year earlier.

McGraw-Hill essentially consists of three parts. The first, its Standard & Poor's unit (with which most Fools are certainly familiar), evaluates and rates corporate securities and other financial instruments and provides the financial indexes that are so widely consulted. This segment increased its quarterly revenue by 21.5% to $728.9 million in the most recent quarter.

The education segment provides textbooks and other educational materials to students and providers of higher education, as well as those in the world of K-12. Its revenue improved by 5.6% to $331.7 million in the quarter.

And then there's information and media, which publishes -- among other periodicals -- BusinessWeek and Aviation Week, along with providing Platts energy information and J.D. Power consumer research. This segment's revenue increased by 4.1% to $235.9 million.

So McGraw-Hill is clearly hitting on all cylinders -- all three cylinders. Unlike daily general-circulation newspaper publishers New York Times (NYSE:NYT), Tribune (NYSE:TRB), and Gannett (NYSE:GCI), McGraw-Hill serves specific needs and interests, and therefore appears to have a bright future. As long as there are financial transactions, and as long as there is public and private education, and as long as there remains a need for information about (for instance) the increasingly important world of energy, there will apparently be a demand for McGraw-Hill's products and services.

And so, Fools, I believe that McGraw-Hill, which was founded in 1888, really seems to be gaining momentum in 2007. It appears to be deserving of your careful monitoring.

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Fool contributor David Lee Smith does not own shares in any of the companies mentioned. He welcomes your comments or questions. The Fool's disclosure policy hits on all cylinders.