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McGraw-Hill profits up 14.3%

Published on .

McGraw-Hill Cos., New York, saw net income for the third quarter rise 14.3% from a year ago to $217.7 million. Revenue increased 5.5% to $1.4 billion. Earnings per share were $1.11, up 15.6% even after a 3¢ dilution for the acquisition of Tribune Education last month. McGraw-Hill's sole magazine title, Business Week, boosted its ad pages 18% through the third quarter, and this year enjoyed what the company called its "best third quarter" ever. Year-to-date results for McGraw-Hill: net income, excluding a one-time gain from the sale of Tower Group International and after the Tribune dilution, up 22.3% to $373 million; revenue up 8.6% to $3.2 billion.

Copyright October 2000, Crain Communications Inc.

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