John Wiley reported fiscal first quarter results, with sales of $411 million down 2 percent compared to last year and adjusted operating income dropping 23 percent to 52 cents a share. The company also took a $4.8 million restructuring charge for various discontinued operations and layoffs as part of the ongoing transition and transformation to digital. (That charge was acknowledged as on the way last quarter.) Wiley also blamed “lower revenue and higher royalty and technology costs” for the revenue declines in the quarter. In the professional/trade group, overall sales of $102 million were up 4 percent, thanks to $6 […]
