Wiley Reports Fourth Quarter and Fiscal Year 2021 Results

John Wiley & Sons, Inc. (NYSE:JWA)(NYSE:JWB), a global leader in research and education, today announced results for the fourth quarter and fiscal year ended April 30, 2021.

Fourth Quarter 2021 Summary
GAAP results: Revenue of $536 million, Operating Income of $51 million, and EPS of $0.73
Adjusted results (at constant currency): Revenue +10%, EBITDA +21%, and EPS +41%

Fiscal Year 2021 Summary
GAAP results: Revenue of $1,942 million, Operating Income of $186 million, EPS of $2.63, and Cash Flow from Operations of $360 million
Adjusted results (at constant currency): Revenue +4%, EBITDA +16%, and EPS +27%
Free Cash Flow of $257 million, up 48% from prior year
Digital products and tech-enabled services now at 82% of total revenue, up from 80% a year ago

“Fiscal 2021 was a good year for Wiley as our growth strategies in open research and career-connected education took firm root and benefited from long-term trends pulled forward by COVID,” said Brian Napack, President and CEO. “These positive market dynamics, combined with great execution in a very complex time, resulted in strong performance and increasing momentum. In the face of historic challenges, Wiley continued to help researchers and learners pursue their critical journeys of discovery and growth.”

Revenue
Research Publishing & Platforms rose 13% as reported and 4% at constant currency and excluding acquisitions, driven primarily by strong growth in open access.
Academic & Professional Learning grew 15% as reported and 12% at constant currency driven by strong growth in Education Publishing and trade publishing, accompanied by further recovery in corporate training.
Education Services increased 9% as reported and 7% at constant currency, driven by growth in online enrollment and mthree IT talent placements.

EPS
GAAP EPS was $0.73 compared to a loss of ($2.83) in the prior year period. Wiley recorded a restructuring charge of $0.12 per share this quarter primarily related to business optimization efforts.
details at: https://newsroom.wiley.com/press-releases/press-release-details/2021/Wiley-Reports-Fourth-Quarter-and-Fiscal-Year-2021-Results/default.aspx

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