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John Wiley & Sons Inc. (WLY+0.09%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports a decrease in consolidated revenue to $404.6 million, a 12% decline compared to the previous year, attributed to divested businesses. Operating income was reported at $51.8 million, an improvement from the previous year's operating loss.
The company recorded a diluted loss per share of $(0.43), a significant improvement from the prior year's loss of $(2.08) per share. This was due to improved operating income and reduced losses from divestitures.
For the Research segment, revenue increased by 4% to $267.5 million, driven by content rights projects and open access growth. Adjusted EBITDA for this segment increased by 12% on a constant currency basis.
The Learning segment saw a revenue decline of 6% to $137.1 million, primarily due to decreases in Academic and Professional categories. Adjusted EBITDA decreased by 5% on a constant currency basis.
The Held for Sale or Sold segment reported no revenue, reflecting the completion of divestitures of University Services, Wiley Edge, and CrossKnowledge.
Operating and administrative expenses decreased by 9% to $230.0 million, with cost reductions attributed to lower employee-related costs and depreciation.
The company recorded restructuring and related charges of $5.6 million, associated with its Global Restructuring Program, which aims to streamline operations and focus on profitable business areas.
Interest expense increased slightly to $14.0 million due to higher interest rates. Net foreign exchange transaction losses were reported at $4.2 million.
John Wiley & Sons Inc. reported a provision for income taxes of $41.6 million, resulting in an effective tax rate of 222.9%, influenced by valuation allowances on deferred tax assets.
The filing details the company's liquidity, stating that operating cash flow and credit facilities are expected to meet operating, investing, and financing needs over the next twelve months.
The company completed the sale of CrossKnowledge and Wiley Edge, with the latter's India operations sold separately. These sales resulted in a net pretax loss of $15.9 million for the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the John Wiley & Sons Inc. quarterly 10-Q report dated March 7, 2025. To report an error, please email earnings@qz.com.