This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

John Wiley & Sons' CEO Discusses Q3 2011 Results - Earnings Call Transcript

In a separate statement this week we announced that we will explore the sale of a number of consumer print and digital publishing assets in Professional Trade that no longer align with our long-term strategies. The assets offered for sale are in travel, including the well-known Promus brand, culinary, general interest, nautical, pets, crafts, Webster’s New World and CliffsNotes. The planned divestiture follows a strategic review of the company’s business portfolio, which led to a renewed – new focus on opportunities in categories that meet the strong global demand for high-quality information for professionals in life-long learning enabled by new technology.

In Wiley’s fiscal year 2011 the publishing assets offered for sale generated approximately $85 million of revenue and approximately $6 million in profit contribution before related Shared Service expenses.

Third quarter professional trade revenue of $108 million declined 6% or 5% excluding the unfavorable effect of foreign currency. The decline is largely attributable for softness in the business book market and reduced retail shelf space for some prints consumer categories, particularly cooking and travel.

eBook sales doubled again in the quarter to $9 million or $28 million year-to-date. Strong global sales, growth at Amazon, Barnes & Noble, Kobo and Apple contributed to the increase in eBook sales. Year-to-date gross profit at 62.7% of revenue reflects a 1.1% improvement compared to the same quarter in the prior year due to the EBIT growth partially offset by higher author advanced revisions. Adjusted direct contribution to profit fell 7% to $28 million reflecting top line results partially mitigated by prudent cost control measures.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs