Sales at Wiley fell 13 percent in their fiscal third quarter to $374 million, with the company citing a “$47 million unfavorable foreign exchange impact” and also suffering from weakness in the US trade segment. (They say that sales fell 2 percent without the currency effects, “due to market conditions affecting the Professional/Trade business and processing delays in STMS related to journal subscription renewals.”) Income before taxes fell 16 percent to $44 million, with adjusted earnings per diluted share down 15 percent at $0.57. Wiley reduced full-year sales guidance “from mid single digit growth to low single digit growth on […]
