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
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.
For related Foolishness:
- Fool on the Street: McGraw-Hill's Getting Its Balance
- McGraw-Hill's Educated Earnings
- Fool on the Street: McGraw-Hill Poised for Profits