McGraw-Hill posts second-quarter profit

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New York—McGraw-Hill Cos. announced Tuesday that net income for the second quarter of 2005 was $195.0 million, an increase of 17.8% compared with net income of $165.6 million for the same period last year.

Revenue for the second quarter grew by 16.9% to $1.5 billion.

The results were primarily driven by strong performances in McGraw-Hill’s financial services and education groups. Revenue for McGraw-Hill’s information and media services division grew 18.6% to $230.3 million, but J.D. Power & Associates, which was acquired on April 1, accounted for $33.6 million of the revenue increase in the second quarter.

A decline in advertising contributed to a decline in the unit’s operating profit, which fell to $13.6 million from $24.8 million.

—Sean Callahan

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