Wiley reported fourth quarter and full fiscal year results on Tuesday morning, with final quarter sales falling $7 million, to $434 million, and sales for the year declining $95.5 million, to $1.727 billion. The same factors that held back fiscal 2016 results — foreign exchange losses due to the weak British pound, and continuing declines in book publishing, balanced out by gains from shifting to time-based journal subscription agreements — leave the company with guidance of “flat” sales and declining adjusted earnings per share, falling “by mid single-digits.” They expect “marginally lower operating income due to the continued book decline and investment […]
