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The McGraw-Hill Companies First Quarter Earnings Call |
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Author: Rozalina Destanova
123jump.com
Last Update: 2:07 AM EDT May 08 2008
Revenue declined 6% to $1.22 billion from $1.3 billion, on a steep drop in structured finance revenue in Standard & Poor''''s Credit Market Services and lower school education sales. The credit crisis has led to more than $200 billion in write-downs over the last year. In the U.S., total new issue dollar volume declined 56%, with mortgage-backed securities off 94% and collateralized debt obligations falling 91%. McGraw-Hill forecast full-year earnings per share in the $2.65 to $2.75 range. |
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