Before the opening bell on Tuesday, John Wiley & Sons (JW-A
) reported its second quarter earnings, posting an 8% increase in revenue on a constant currency basis from last year’s Q2.
JW-A Earnings in Brief
-Revenue for the quarter came in at $449 million, up from last year’s $418 million.
-The company’s adjusted net income came in at $49.938 million, or 84 cents per share, which was up from last year’s Q2 figure of $45.521 million, or 75 cents per share.
-JW-A was able to beat analysts’ estimates of 75 cents EPS on revenues of $427.65 million.
-Looking ahead, the company reaffirmed its guidance for FY2014 of EPS in the range of $2.85-$2.95.
CEO Commentary
Steve Smith, President and CEO of Wiley, had the following comments about the company’s quarterly report: ”We are pleased with our performance this quarter, particularly the solid revenue contribution coming from Education and Professional Development solutions, including online program management (Deltak), WileyPLUS, and online training and assessment. In Research, journal subscriptions showed healthy revenue growth, consistent with our expectations, and open access revenue more than doubled vs. the prior year period to $4 million.”
No Mention of Dividend
John Wiley & Sons did not report any change to its dividend payout in the most recent report, which was to be expected as the company announced a small dividend raise this past summer. Investors should look out for a small dividend raise in mid-2014. JW-A should declare its next quarterly dividend in the coming weeks.
Stock Performance
JW-A stock was inactive in pre-market trading. So far this year, the stock is up 26.81%.
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