Reduced market opportunities for McGraw-Hill School Education
3Q revenue grew 18.9% in 2005 and declined 12% in 2006
- Texas key factor
- Texas adoption resulted in $46 million in 3Q 2005 revenue
- No Texas adoption in 2006
Off-year in 2006 state new adoption cycle
- Potential limited by market decline of 30%, or approximately $250 million
Our elementary products fell short in Florida and California
- Took 4% of Florida K-5 science
- Took 15% of California K-5 social studies