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McGRAW HILL FINANCIAL REPORTS
4th QUARTER AND FULL-YEAR 2014 RESULTS
The Company Delivered Strong Revenue from Continuing Operations in Both 4th Quarter and Full-Year 2014
4th Quarter and Full-Year Revenue Each Increased 7%
As a Result of Recent Legal and Regulatory Settlements, Diluted EPS from Continuing Operations Decreased to $(3.71) in the 4th Quarter and Decreased to $(1.08) for the Full Year
Adjusted Diluted EPS from Continuing Operations Increased 23% to $0.95 in 4th Quarter and 20% to $3.88 for the Full Year
Introduces 2015 Adjusted Diluted EPS Guidance of $4.35 to $4.45
The Company Declares New Annualized Dividend of $1.32 Per Share
New York, NY, February 12, 2015 – McGraw Hill Financial, Inc. (NYSE: MHFI) today reported fourth quarter and full-year 2014 results. The Company reported fourth quarter 2014 revenue of $1.29 billion, an increase of 7% compared to the same period last year. Largely reflecting the impact of recent legal settlements, fourth quarter net income and diluted earnings per share from continuing operations were losses of $(1,009) million and $(3.71), respectively. For the full year, revenue increased 7% to $5.05 billion and net income and diluted earnings per share from continuing operations were $(293) million and $(1.08), respectively. Every business delivered increased revenue in 2014.
Excluding the impact of charges related to legal and regulatory settlements and restructuring, adjusted net income from continuing operations for the quarter increased 22% to $264 million, and adjusted diluted earnings per share from continuing operations increased 23% to $0.95. For the full year, adjusted net income from continuing operations increased 19% to $1,073 million and adjusted diluted earnings per share from continuing operations increased 20% to $3.88.
“2014 was an important year for the Company. We completed the portfolio rationalization of media businesses, resolved significant legal and regulatory matters, added talented new leaders to our senior management team, and delivered solid business performance," said Doug Peterson, President and Chief Executive Officer of McGraw Hill Financial. He continued, “There is much more to be accomplished. We will continue to focus on creating growth and driving performance, including enhancing our customers' experiences, extending our international capabilities, tightly managing our expense base, and delivering strong financial performance, all while striving to operate with the highest levels of independence, objectivity, regulatory compliance, and operational discipline."
The following information was filed by Sp Global Inc. (SPGI) on Thursday, February 12, 2015 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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