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| MHP > SEC Filings for MHP > Form 8-K on 24-Jan-2008 | All Recent SEC Filings |
24-Jan-2008
Regulation FD Disclosure
On January 24, 2008, Registrant issued an earnings release (the "Earnings Release") containing a discussion of Registrant's results of operations and financial condition for the fourth quarter and fiscal year ending December 31, 2007.
The Earnings Release contains financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP") that the Registrant reported 2007 diluted earnings per share of $2.94, an increase of 22.5% versus $2.40 in 2006. The 2007 results include a $0.03 diluted per share gain on the divestiture of a mutual fund data business and an $0.08 restructuring charge mainly for employee severance costs for a reduction of 611 positions. The 2006 results include a one-time charge of $0.04 for the elimination of the Company's stock option restoration program, a $0.06 charge for restructuring and $0.04 for a deferral of revenue for the transformation of Sweets from primarily a print catalog to a bundled print and online service. Also the Company reported that for the fourth quarter of 2007 diluted earnings per share for the period were $0.43, including a $0.08 restructuring charge. Diluted earnings per share from operations for the fourth quarter of 2006 were $0.56, including a $0.03 restructuring charge.
The Earnings Release contains two statements on the Registrant's financial results that would not be presented in a GAAP statement of earnings to the effect that:
· The Outlook: "Guidance for 2008 excludes: $0.08 restructuring charge in the fourth quarter of 2007, and $0.03 gain from the divestiture of a mutual fund data business in 2007.
· Exhibit 3: Exhibit 3 presents an adjusted operating profit by segment, excluding the impact of 2007 and 2006 restructuring charges, the 2006 charge for the termination of the Company's stock restoration program and the 2007 gain on the sale of a mutual fund data business.
The Registrant believes that the disclosure of this data provides useful supplemental information for meaningful comparison of the Company's results.
Item 9.01. Exhibits.
(99) Earnings Release of the Registrant, dated January 24, 2008, containing a discussion of Registrant's results of operations and financial condition for the fourth quarter and fiscal year ending December 31, 2007.
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