Wiley Reports Third Quarter Fiscal 2021 Results

Management Commentary:
“Wiley’s strategic focus and solid execution in open research and online education continue to yield strong results,” said Brian Napack, President and CEO. “During the quarter, we accelerated our Research growth strategy with the acquisition of Hindawi, a rapidly-growing leader in open access publishing, and we strengthened the Wiley network with new university and corporate partners for online degree and talent development services.”

*Research Publishing & Platforms rose 3% as reported and 1% at constant currency, with strong growth in open access and inorganic contributions from acquisitions offsetting anticipated subscription revenue pressure.
*Academic & Professional Learning declined 2% as reported and 4% at constant currency mainly due to COVID-19 impact on test prep and in-person corporate training, and a decline in print book revenue, which offset continued growth in digital content and courseware.
*Education Services increased 25% as reported and 24% at constant currency, driven by organic revenue growth of 13% from strong online enrollment and new student starts, and the two-month inorganic contribution from mthree (+$8 million).
*GAAP EPS of $0.39 declined from $0.63 in the prior year, reflecting restructuring charges of $0.28 per share, primarily related to a previously disclosed reduction in Wiley’s real estate footprint.
*Net debt-to-EBITDA ratio (trailing twelve months) at quarter-end was 2.2 as compared to 1.8 at the end of the year-ago period.
*Available liquidity was approximately $620 million at quarter-end, including $91 million of cash on hand and $529 million of undrawn credit capacity.
details at: https://newsroom.wiley.com/press-releases/press-release-details/2021/Wiley-Reports-Third-Quarter-Fiscal-2021-Results/default.aspx

Related Posts

Houghton Mifflin Harcourt Announces Strong Second Quarter 2021 Results

Highlights from the quarter include: *Raising 2021 billings guidance to $980-1,020 million and unlevered free cash flow guidance to 12-14% of billings *Strong billings growth across the Company of 25% in Q2 and 21% YTD as demand for teaching and learning solutions grows with students returning to classrooms this fall *Annualized Recurring Revenue (ARR)2 growth accelerated 106% bringing ARR to $77 million, or 8% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 154% *Trailing twelve-month free cash flow of $101 million, an improvement of $29 million compared to the first quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its Digital First, Connected strategy *Gross leverage ratio of 1.8x, below HMH’s target leverage ratio of 2.0x adjusted EBITDA

Dennis expands with acquisition

Publisher Dennis Publishing has added to its current affairs division with the acquisition of MoneyWeek, a leading financial title. The magazine had been published by Agora Publishing since 2003 and now joins the group’s flagship The Week magazine, along with The Week Junior, as publications within its current affairs division. MoneyWeek, which had a weekly circulation of 46,498 in the period July to December 2016, was founded in 2000 by The Week founder Jolyon Connell and its current editor-in-chief Merryn Somerset Webb, who is staying on as editor along with John Stepek. Click Read More below for more of the story.

Gannett Announces First Quarter 2023 Results

First Quarter 2023 Financial Highlights: • Total revenues of $668.9 million decreased 10.6% compared to the first quarter of 2022 ◦ Same store revenues(1) decreased 9.3% compared to the first quarter of 2022 • Total digital revenues were $247.5 million or 37.0% of total revenues, down 0.9% over the same period in the prior year on a same store(1) basis primarily as a result of declines in digital media year-over-year • Net income attributable to Gannett of $10.3 million, representing an income margin of 1.5%, improved by $13.3 million versus the net loss attributable to Gannett of $3.0 million in the first quarter of 2022
Back To Top
×Close search
Search