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McGraw-Hill saw its third-quarter earnings fall 14%, despite its higher education publishing showing some resilience.
The company posted a profit of $336.1m (£205m) or $1.07 a share, down from $390.2m, or $1.23 a share, a year earlier. Revenue decreased 8.4% to $1.88bn
The group cited "surging fall enrollments, successful digital initiatives and the solid performance of major imprints" as having generated growth for McGraw-Hill Higher Education in the third quarter.
However, this was wiped out by a negative foreign exchange rate, "softness in international markets" and continued weakness at book stores for professional products. As a result, the education segment - the company's largest - saw sales decline by 12%.
McGraw-Hill, which also took a hit from school districts cutting spending, has previously restructured its key educational-publishing business, cutting 550 jobs in the process.
Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies, said: "Our third quarter was marked by sharp contrasts in key markets".
He added: "We produced good growth in the U.S. college and university market while the elementary-high school market declined.
"Cost containment remains a priority. In the third quarter, including the impact of a $23.4m pre-tax restructuring charge last year, we reduced total costs and expenses by 5.4% despite a $68m increase in incentive compensation after substantial reductions in 2008."