Wiley Third Quarter Results Rise 8% to 278M
by Calvin Reid, PW NewsLine -- Publishers Weekly, 3/8/2006
Driven by gains in its STM and professional/trade businesses, John Wiley & Sons reported an increase in third quarter revenue to $278 million, an 8% increase over the same period in the previous fiscal year. Operating income increased 7% over the previous year’s third quarter, while Wiley’s revenues for the first nine months of fiscal 2006 grew 6% to $778 million.
A strong holiday season and similar performances in the technology, architecture and engineering categories drove a 10% growth in third quarter revenue to $101 million for the professional and trade businesses. The division was also helped by the line of Sybex technology titles Wiley acquired in May and also by licensing and website advertising, particularly from Frommers.com. Wiley’s U.S. scientific, technical and medical businesses reported a 15% increase in third quarter revenues to $50 million. STM revenue growth is credited to strong performances from subscription and nonsubscription journal revenue and from reference book publishing.
Wiley reports a 3% growth in third quarter higher education revenues to $46 million. Its European division revenues were up 10% in the third quarter and for the first nine months of the fiscal year, driven by gains in STM journal and book publishing and from a strong demand for SuDoku for Dummies series, volumes 1-3.|
|
