Wiley reported third quarter earnings for the period ended January 31, with sales down 5 percent to $491 million. They showed an operating loss — of ($67.1) million — compared to profit of $46 million last year, mostly due to a non-cash goodwill impairment charge of $100 million. Adjusted EBITDA fell 2 percent (or 3 percent at constant currency) to $97.7 million. Following the challenging quarter they also reduced their outlook for the fiscal year, “primarily due to increased academic market headwind.” Sales are expected to be $45 million to $55 million lower than forecast, and adjusted EBITDA is expected […]
