Friday, October 28, 2005

The McGraw-Hill Companies Reports 17.7% Increase in Third Quarter --

Can there still be anyone out there who doesn't believe that all this education reform and testing mainia is, at least partially, about making money...

"The reading and testing markets continue to benefit from the federal government's No Child Left Behind program. Our revenue from Reading First programs again showed a year-over-year increase in the third quarter. The gain is attributable to purchasing by newly eligible districts, orders from large urban districts including St. Louis, Milwaukee, Chicago, Los Angeles and Detroit, and increased sales of intervention products.

"The testing provisions of No Child Left Behind continue to fuel growth in custom contracts while reducing the demand for higher margin norm-referenced test products and services at the district level. We also benefited from growth in value-added reporting and instructional guides for district and state assessment programs and from the State of Qatar's National Assessment Program.

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