|For the fiscal years ended April 30||2008||2007||% Change|
|Operating Income a||$222,990,000||$161,304,000||38%|
|Net Income a|
|earnings Per diluted Sharea|
|Return on Equity a|
|Dividends Per Share|
|Class A Common||$0.44||$0.40||10%|
|Class B Common||$0.44||$0.40||10%|
*The graph to the left provides an indicator of the cumulative total return to shareholders of the Company’s Class A Common Stock as compared with the cumulative total return on the Russell 1000 and the Dow Jones World Publishing Index, for the period from April 30, 2003 to April 30, 2008. The Company has elected to use the Russell 1000 Index as its broad equity market index because it is currently included in that index. Cumulative total return assumes $100 invested on April 30, 2003 and reinvestment of dividends throughout the period.
Note: The Company’s management internally evaluates its operating performance excluding unusual and/or non-recurring events. The Company believes excluding such events provides a more effective and comparable measure of performance. We also believe that excluding the effects of these tax benefits and other items provides a more balanced view of the underlying dynamics of our business. Since adjusted net income and adjusted earnings per share are not measures calculated in accordance with GAAP, they should not be considered as a substitute for other GAAP measures, including net income and earnings per share, as an indicator of operating performance.
GAAP = U.S. Generally Accepted Accounting Principles
CAGR = Compound Annual Growth Rate