Stock Market Watch

John Wiley & Sons Maintain Full-Year Outlook

by ·


Content and digital solutions provider, John Wiley & Sons Inc. (NYSE: JW) said on Monday that net income for the fiscal first quarter slipped 0.5% as higher costs due to restructuring expenses offset slight improvement in revenue; however, shares jumped as the Company reaffirmed its full-year outlook.

The Hoboken, New Jersey-based company has been shifting its focus from print publishing to digital content business. Revenue from the content and services segment accounted for 52% of the total revenue compared to 45%, in the year-earlier quarter.

In the latest period, the Company took a charge of $7.8 million linked to restructuring and expects to record around $8 million in the current quarter. Thus far, the transition program has accounted for $32.3 million in costs. More additional restructuring expenses are expected in remaining quarters, the company said.

For the fiscal first quarter ended July 31, the Company posted a net income of $35.9 million or 61 cents a share, compared to a profit of $36.1 million or 60 cents a share, in the same period of last year. Excluding onetime items such as restructuring costs, the adjusted earnings stood at 51 cents a share, a penny down from year earlier quarter.

Revenue rose by less than a million to $411 million. Operating margin contracted to 8.7% from 9.5%.

Revenue, rose 4.2% at the company’s research division, dipped 18% at the professional development division while it climbed 11% at its education division.

Through Friday’s close, the stock has gained 8.7% in preceding three months.

 








More Posts by this author

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

Tags:

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...