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Confidential – Draft v15
4th QUARTER AND FULL-YEAR 2012 RESULTS
McGraw-Hill Education Reclassified to Discontinued Operations in Anticipation of the Sale Closing in the 1st Quarter
McGraw Hill Financial Revenue Increased 22% in the 4th Quarter and 13% for the Full Year
Diluted EPS from Continuing Operations Increased 80% to $0.67 in the 4th Quarter and 19% to $2.37 for the Full Year
Adjusted Diluted EPS from Continuing Operations Increased 56% to $0.72 in the 4th Quarter and 32% to $2.75 for the Full Year, Creating a Baseline for Future Comparisons
Introduces 2013 Adjusted Diluted EPS Guidance for McGraw Hill Financial of $3.10 to $3.20, an Increase of Approximately 15% Versus Comparable 2012 EPS of $2.75
New York, NY, February 12, 2013 – The McGraw-Hill Companies (NYSE: MHP) today reported fourth quarter and full-year 2012 results. Because of the pending sale of McGraw-Hill Education, this business has been reclassified as a discontinued operation and its results are excluded from continuing operations. In addition, in anticipation of the formation of McGraw Hill Financial and the first full year of operation of the S&P Dow Jones Indices joint venture, the Company is reporting S&P Capital IQ and S&P Dow Jones Indices as distinct business segments beginning this quarter.
McGraw Hill Financial:
The Company reported fourth quarter 2012 revenue of $1,226 million, an increase of 22% compared to the same period last year. Net income and diluted earnings per share from continuing operations were $190 million and $0.67, respectively. For the full year, revenue increased 13% to $4,450 million and net income and diluted earnings per share from continuing operations were $676 million and $2.37, respectively.
Excluding the impact of one-time costs related to the Growth and Value Plan, and a gain from modifications to the vacation policy, adjusted net income from continuing operations increased 52% to $205 million, and adjusted diluted earnings per share from continuing operations increased 56% to $0.72. For the full year, adjusted net income from continuing operations increased 24% to $783 million and adjusted diluted earnings per share from continuing operations increased 32% to $2.75.
The following information was filed by Sp Global Inc. (SPGI) on Tuesday, February 12, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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