These results include a pretax restructuring charge of $23.7 million ($14.8 million after tax) or $0.05 per diluted share due to severance costs for eliminating 395 positions.
Revenue declined 2.6% to $1.7 billion in the second quarter.
Revenue for McGraw-Hillâ€™s Business-to-Business Group increased 7.8% to $240.4 million. The group includes the following brands: Aviation Week, BusinessWeek, J.D. Power and Associates, McGraw-Hill Construction and Platts. A key driver in the groupâ€™s second-quarter performance was Platts, whose petroleum news and pricing products attracted new subscribers in the volatile oil market.