Wiley reported first quarter sales for the period ending July 30, with sales falling 3 percent to $423 million (down $15 million) on currency exchange, as half their sales come from the weaker pound and euro. Adjusted operating income of $44.9 million was down 10 percent for the quarter, and net income was down $2 million (or 4 percent) to $32.4 million. On a “constant currency” basis sales actually rose 2 percent, with foreign exchange subtracting $22 million in sales in the quarter. In the professional development division, which includes their remaining trade books, revenue rose 10 percent to $98.7 […]
