Net debt, that’s long-term debt less cash and cash equivalents, was reduced from prior year by $37 million to $215 million including approximately $85 million of new debt to fund the Inscape acquisition. In addition, we returned $48 million to shareholders in the form of dividend and repurchased $87 million worth of treasury shares during the year. At the end of April, cash on hand was approximately $260 million.Now I’d like to provide some information regarding the performance of Wiley’s global businesses. STMS revenue for the quarter was up 2% to $291 million mainly due to strong digital book sales, pay-per-view, research revenue, and the sale of journal rights partially offset by lower journal reprint and backfile revenue.
John Wiley & Sons' CEO Discusses F4Q2012 Results - Earnings Call Transcript
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