Net debt was $353 million at the end of the quarter, down from $573 million a year earlier. During the quarter, Wiley repurchased 184,700 shares at a cost of $9.4 million. In June, Wiley increased its quarterly dividend by 25% to $0.20. It was the 18th consecutive annual increase.Now I'd like to provide some information regarding the performance of Wiley's global businesses. STMS revenue of $253 million for the quarter increased 10% or 3% excluding the favorable effects of foreign exchange. Journal's revenue grew by 6.4% over prior year and by solid underlying subscription growth of 3.4% per calendar year 2011 receipts to date, strong publication flow, impressive back [file] sales growth and an excellent start to the year for corporate sales.
John Wiley & Sons' CEO Discusses F1Q 2012 Results - Earnings Conference Call
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