This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:McGraw-Hill Ryerson earns $7.29-million in Q3 2009-10-30 16:20 ET - News Release Mr. Gordon Dyer reports MCGRAW-HILL RYERSON REPORTS THIRD QUARTER RESULTS
McGraw-Hill Ryerson Ltd. has released its third-quarter results.
The company's revenues are typically more heavily weighted toward the second half of the calendar year. In the third quarter, McGraw-Hill's revenues generally exceed the total of the first two quarters combined. This year's sales in the third quarter were slightly below prior year.
The net revenue of $38.2-million in 2009 was lower than the $41.1-million in the third quarter of 2008. This was the result of a decrease in school division sales for the quarter.
The higher education division reported sales of $26.3-million, an increase of 5.9 per cent compared with the prior year's $24.9-million. The increase was evenly split between sales of imported titles and sales of locally produced titles.
The school division reported sales of $8.7-million, a decrease of 31.5 per cent from $12.7-million in 2008. This was mainly caused by significant sales in 2008 of several mathematics titles in Ontario and social studies titles in Alberta that were not replicated in 2009. Industry-wide spending was down 13 per cent in the third quarter (according to Canadian Educational Resources Council) reflecting financing uncertainties in several provinces.
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