John Wiley & Sons Q4 Net Income Declines - Quick Facts

(RTTNews) - John Wiley & Sons, Inc. (JW-B, JW-A), a global provider of knowledge and learning solutions, reported that its fourth-quarter net income decreased year-over-year to $34.2 million from $47.0 million. EPS on a US GAAP basis declined 25% to $0.59 from $0.79. Adjusted EPS declined 6% to $0.67 excluding both currency and the shift to time-based journal subscriptions.

On a US GAAP basis, revenue declined 2% to $434.3 million due to the unfavorable impact of foreign exchange and the transitional impact of shifting to time-based journal subscriptions. Revenue declined 1% on a constant currency basis, but rose 1% excluding both currency and the shift to time-based journal subscriptions.

Wiley's fiscal 2017 outlook is for revenue to be flat and adjusted EPS to be down by mid single-digits excluding both foreign exchange and the favorable impact from shifting to time-based journal subscription agreements (+$37 million in revenue and +$0.42 in EPS).