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McGraw-Hill posts 3Q earnings of $381.3M

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WASHINGTON (AP) - The McGraw-Hill Cos. reported a strong increase in net income in the latest quarter.

The New York-based publisher and business information provider on Thursday said it earned $381.3 million, or $1 a share, on revenue of $1.98 billion in the third quarter.

Analysts were expecting earnings of 95 cents a share, according to Thomson Financial.

In the previous year, it earned $324.5 million, or 85 cents a share, on revenue of $1.72 billion.

The company said its third-quarter results included a 1 cent gain on the sale of its Corporate Value Consulting unit. The third-quarter results also include 1 cent dilution from acquisitions in 2004 and 2005.

The company said it continues to expect double-digit percentage growth in earnings per share from continuing operations for 2005, including 8 cents to 9 cents dilution from acquisitions this year and last and changes in pension-plan assumptions for this year.

Shares of McGraw-Hill fell 6 cents to $47.09 in afternoon trading on the New York Stock Exchange.

McGraw-Hill publishes BusinessWeek magazine and school textbooks. It provides credit ratings and other business information through its Standard & Poors unit. \<!--

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