NEWS: John Wiley & Sons Inc. said Tuesday that its fiscal second-quarter net income declined 16 percent, hindered by some charges.
DETAILS: The company has three segments: Research, which provides scholarly journals and other books in print and digitally; professional development, which offers test preparation and training services; and education, which offers online course management tools for teachers and students.
Journal subscription revenue climbed 2 percent to $164 million, while digital book revenue across its three segments surged 40 percent to $31.4 million.
Research revenue rose 2 percent to $252.9 million, led by a 45 percent increase in digital book sales. Education revenue increased 30 percent to $103.7 million, helped by digital books, binder and custom products, Deltak, its online program management, and the WileyPLUS, an online suite of teaching and learning resources.
Adjusted revenue for the professional development segment climbed 7 percent to $92.5 million. This excludes the impact of foreign currency fluctuation and revenue from the consumer publishing programs sold in the prior-year period.
NUMBERS: For the period ended Oct. 31, the publisher earned $36.2 million, or 61 cents per share. That compares with $43.1 million, or 71 cents per share, a year earlier.
Excluding restructuring charges and other items, earnings were 84 cents per share, up from 75 cents per share.
Revenue for the Hoboken, N.J., company increased 4 percent to $449.2 million from $431.8 million.
FUTURE: John Wiley & Sons maintained its full-year forecast for adjusted earnings of $2.85 to $2.95 per share and a low-single-digit percentage increase in revenue.
That compares with 2012 adjusted profit of $3.21 per share on revenue of $1.78 billion.
STOCK: Its Class A shares added 29 cents to $50.80 in afternoon trading.