Friday, June 20, 2008

Wiley Reports Blackwell Benefits

Wiley released their fourth quarter and full year results yesterday. From their press release:

Revenue for the fiscal year 2008 increased 36% over the previous year to $1.7 billion. Blackwell Publishing Ltd. (Blackwell), which was acquired in February 2007, contributed approximately $485 million of revenue to Wiley's fiscal year 2008 results. Excluding Blackwell, revenue for fiscal year 2008 increased 5%. Favorable foreign exchange contributed two percentage points to the year-on-year growth excluding Blackwell. On a U.S. GAAP basis, earnings per diluted share for fiscal year 2008 was $2.49, compared to $1.71 in fiscal year 2007. Excluding Blackwell and various tax benefits, adjusted earnings per diluted share improved 15% to $1.89. Blackwell’s performance was accretive to fiscal year 2008 earnings per dilutive share by approximately $0.29, excluding non-recurring tax benefits.
Revenue for the fourth quarter increased 11% to $433 million from $390 million in the same period of the previous year, or 8% excluding foreign exchange. Blackwell's performance was included in the fourth quarter of both years. Earnings per diluted share for the quarter was $0.49 compared to $0.25 in the prior year.

More details here.

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