$JW.A (John Wiley & Sons Inc.)

$JW.A {{ '2016-06-14T14:08:39+0000' | timeago}} • Announcement

Publisher $JW.A $JW.B reported a decline in 4Q16 earnings due to unfavorable impact of foreign exchange and transitional impact of shifting to time-based journal subscriptions. Net income fell to $34.21MM or $0.59 per share from $46.9MM or $0.79 per share last year. Revenue slid 2% to $434.3MM. Adjusted EPS decreased to $0.67 from $0.81.

$JW.A {{ '2017-06-13T15:07:43+0000' | timeago}} • Webcast

$JW.A stated that the Atypon acquisition was less dilutive than anticipated in FY17 with the dilution being just under $0.10 to the business base. The dilution is expected to remain the same in FY18. In FY19, the company expects the impact to turn neutral to positive.

$JW.A {{ '2017-06-13T14:57:31+0000' | timeago}} • Webcast

$JW.A said the nature of the revenue and operating income benefit it is anticipating from FX during FY18 specifically has to do with the Journals business, the nature of the business being the subscriptions are paid in advance. In 2017, $JW.A will see the benefit of the dollar appreciating against the pound sterling in Journals revenue in the UK.

$JW.A {{ '2017-06-13T14:42:55+0000' | timeago}} • Webcast

In 4Q17, $JW.A’s revenue from the Research segment grew 3%, constant currency, primarily due to the contribution from Atypon. The Publishing segment, which accounts for 37% of total revenue, saw a 7% growth in revenue, constant currency, with overall books up 6% and Education Books up 28%. Solutions revenue grew 14% constant currency.

$JW.A {{ '2017-06-13T14:24:22+0000' | timeago}} • Webcast

During 4Q17, $JW.A continued to make significant strides in digital transformation. 68% of the company’s revenue is currently from digital sources, up from 63% last year. This was the result of several factors including the Atypon acquisition, strong growth in the Solutions business and continued declines in print book sales.

$JW.A {{ '2017-06-13T12:35:26+0000' | timeago}} • Announcement

For FY18, $JW.A sees revenue and operating income at constant currency to be approximately even with FY17. For the year, adjusted EPS performance at constant currency is expected to be down low-single digits, while Cash from Operations touted to improve to $350MM or higher.

$JW.A {{ '2017-06-13T12:32:44+0000' | timeago}} • Announcement

For $JW.A, 4Q17 revenue grew 4% to $452.2MM pushing the net income up by 36% to $46.7MM. Earnings for the company, whose CEO and President Mark Allin resigned this May, soared 38% to $0.81 per diluted share. $JW.B

$JW.A {{ '2017-05-08T12:50:24+0000' | timeago}} • Announcement

$JW.A announced that President and CEO Mark Allin has resigned for family reasons, effective immediately. Matthew Kissner, Chairman of the Board, has been named interim CEO. The Board has begun a search for Mr. Allin’s successor.

$JW.A {{ '2016-12-07T15:53:29+0000' | timeago}} • Webcast

$JW.A $JW.B signed two new society contracts in 2Q17 with combined annual revenue of $2.7MM; 12 contracts were renewed with combined annual revenue of $7.9MM and one contract with annual revenue of $1.6MM was not renewed. Journal Subscriptions increased 1% on a constant currency basis, with 99% of targeted business contracted for 2016.

$JW.A {{ '2016-12-07T15:43:07+0000' | timeago}} • Webcast

$JW.A $JW.B repurchased 193,955 shares for $10MM, with an average of $51.56 per share. The current authorized repurchase programs consists of over 4.3MM shares. Cash and cash equivalents were $267.4MM and free cash flow used was $155.4MM as of Oct. 31, 2016, mainly due to earlier journal cash collections.

$JW.A {{ '2016-12-07T15:30:35+0000' | timeago}} • Webcast

$JW.A $JW.B had 37 university partners and 231 programs under contract at the end of 2Q17. The company signed 3 new programs and 4 programs were not renewed in Online Program Management.

$JW.A {{ '2016-12-07T15:25:31+0000' | timeago}} • Webcast

$JW.A $JW.B expects the Atypon acquisition to further enhance its Research capabilities with an industry-leading online library platform and expanded Research service offerings. The company acquired Ranku, a recruitment technology and predictive analytics software company, in September. Judy Verses is newly appointed as EVP, Research, in October.

$JW.A {{ '2016-12-07T15:17:12+0000' | timeago}} • Webcast

$JW.A $JW.B implemented a new reporting structure comprised of 3 reportable segments such as Research, which includes largely Journals & Atypon; Publishing, which includes Books and related content, Course Workflow and Test Preparation; and Solutions, which include Online Program Management, Corporate Learning and Professional Assessment.

$JW.A {{ '2016-12-07T14:15:16+0000' | timeago}} • Announcement

$JW.A $JW.B expects FY17 revenue to be flat and adjusted EPS to decline mid single digit, excluding the impact of foreign exchange. In October, Wiley closed its $120MM Atypon acquisition, which was first announced in August. The platform will replace the current Wiley Online Library platform in 2018.

$JW.A {{ '2016-12-07T14:14:27+0000' | timeago}} • Announcement

$JW.A $JW.B's Journals and Atypon revenue declined 1% on a GAAP basis and rose 5% on a constant currency basis to $206MM, driven by a 3% rise in Journal Revenue, including 3% growth in Journal Subscriptions and 27% growth in Author-Funded Access. Publishing revenue fell 7% on a GAAP basis to $163.3MM, or up 5% at constant currency.

$JW.A {{ '2016-12-07T14:14:06+0000' | timeago}} • Announcement

$JW.A $JW.B posted a net loss of $11.45MM, or $0.20 per diluted share, compared to net income of $43.6MM, or $0.74 per diluted share in 1Q17. Revenue declined 2% on a GAAP basis and grew 2% on a constant currency basis to $425.6MM. Journal subscription revenue grew 3% on a constant currency basis and declined 2% on GAAP basis.

$JW.A {{ '2016-09-07T15:09:33+0000' | timeago}} • Webcast

Daniel Moore of CJS Securities asks about cost savings from the Atypon acquisition. CFO John Kritzmacher said that on an annualized basis $JW.A $JW.B is expecting to realize savings that are on the order of $10MM per year.

$JW.A {{ '2016-09-07T15:01:02+0000' | timeago}} • Webcast

Stifel analyst Drew Crum asks for an update on $JW.A $JW.B's exposure to the for-profit school operators. CEO Mark Allin replied that the exposure is pretty limited. He added that in its online program management business, the company has no exposure.

$JW.A {{ '2016-09-07T14:49:59+0000' | timeago}} • Webcast

$JW.A $JW.B said Atypon is expected to increase FY17 sales by about $20MM, but be dilutive to EPS by roughly $0.15. The dilution is the result of a partial writedown of Atypon deferred revenue at closing in accordance with GAAP, amortization of acquired intangibles & incremental cost of transitioning Wiley Online Library to the Literatum platform.

$JW.A {{ '2016-09-07T14:45:53+0000' | timeago}} • Webcast

$JW.A $JW.B deployed $11MM in 1Q17 to repurchase over 221,000 shares at an average cost per share of $51.01. The company added that authorization remains to repurchase another 4.5MM shares, including a new 4MM share authorization approved by its BoD in June 2016.

$JW.A {{ '2016-09-07T14:41:39+0000' | timeago}} • Webcast

With respect to organic investments, including its ERP and office transformation initiatives, $JW.A $JW.B expects full year 2017 technology, property and equipment investments to be approx. $115MM. The company expects composition spending to be roughly $50MM. In total, these investments will be higher than FY16 by about $30MM.

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