John Wiley & Sons, Inc. (JW.A)
F4Q2012 Earnings Conference Call
June 19, 2012, 14:00 p.m. ET
Steve Smith - President and CEO
Ellis Cousens - EVP, CFO and COO
Brian Campbell - Director, Investor Relations
Daniel Moore - CJS Securities
David Pang - Stifel Nicolaus
Michael Corty - Morningstar
Welcome to the John Wiley & Sons Quarterly Earnings Call. Before introducing Steve Smith, President and Chief Executive Officer, I’d like to remind this call is being record and may include forward-looking statements. You should not rely on such statements as actual results may differ materially and are subject to factors that are discussed in detail in the company’s 10-K and 10-Q filings with the SEC. The company does not undertake any obligations to update or revise forward-looking statements reflect subsequent events or circumstances.
Mr. Smith, please go ahead.
Good afternoon. Thank you for participating in Wiley’s fiscal year 2012 fourth quarter investor conference call. I’m with Ellis Cousens, Executive Vice President and Chief Financial and Operations Officer; and Brian Campbell, Director of Investor Relations.
I will take a few moments to provide an overview of Wiley’s performance in the fourth quarter and full fiscal year, we will then respond to your questions and comments. My overview of Wiley’s performance will refer to financial variations excluding the effect of foreign exchange unless otherwise noted.
Challenging market conditions depicted in the fourth quarter against the sluggish economic backdrop, Wiley achieved revenue growth of 2% or 3% excluding the unfavorable effect of foreign exchange. All three global businesses reported revenue growth in the fourth quarter.