McGraw Hill issued its first annual report under its new fiscal calendar, with the year ending March 31, 2020, along with its fourth quarter results. Fourth quarter billings were flat, at $241 million, and net sales were $279 million with no comparison figure available. COVID-19 had clear negative impact on the quarter: International billings were dragged down $9 million, or 24 percent; higher ed and K-12 were also impacted, due to school closures. Billings were still flat, however, because higher education sales have been shifting from Q3 to Q4. Adjusted EBITDA was a loss of $(39) million, from $(56) million, […]
