John Wiley & Sons (JW-A) Tops Q4 EPS by 2c; Offers FY16 Outlook
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John Wiley & Sons (NYSE: JW-A) reported Q4 EPS of $0.81, $0.02 better than the analyst estimate of $0.79. Revenue for the quarter came in at $442 million versus the consensus estimate of $461.59 million.
Wiley’s fiscal year 2016 outlook is for low-single-digit revenue growth and flat adjusted EPS growth on a constant currency basis and excluding the adverse transitional impact of shifting to time-based journal subscription agreements. As previously announced, Wiley is moving to time-based digital journal subscription agreements for calendar year 2016 in order to simplify the contracting and administration of such agreements. The change will shift roughly $35 million of revenue and $0.35 of EPS from FY16 to FY17, with recurring effect annually thereafter. The change will not impact free cash flow. Included in the EPS guidance is an incremental expense impact of more than $0.15 for the previously announced ERP implementation as compared to FY15.
For earnings history and earnings-related data on John Wiley & Sons (JW-A) click here.
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