McGraw-Hill 4Q Broadcast Revenue Up 22%

The McGraw-Hill Companies today announced that its Broadcasting Group’s revenue grew by 21.7% in the fourth quarter of 2010 to $28.4 million compared to the same period last year.

For the full year 2010, the group’s revenue grew by 18.3% to $96 million. Strong political advertising and improvement in national and local time sales were key factors in the Broadcasting Group’s improved performance.

The company as a whole reported net income in the fourth quarter declined 8% to $153.8 million compared to 2009. On an adjusted basis, net income in the fourth quarter increased by 6.2% to $170.5 million compared to 2009. Revenue in the fourth quarter grew by 4.2% to $1.5 billion.

“Double-digit EPS growth and the maintenance of a rock-solid financial position were the hallmarks of our performance in 2010,” said Harold McGraw III, Chairman, president-CEO of The McGraw-Hill Companies.

Read the company’s report here.