Wiley reported adjusted third quarter sales of $458 million and operating income $77.6 million, both down slightly. The company took charges of $4.3 million in the quarter related to their ongoing restructuring program, and they expect to take another $10 million of charges in the fourth quarter. The company’s reduced trade book lines are now reported inside the “professional development” segment, where adjusted revenue declined 5 percent o $94.2 million — attributed to “a decline in print books (-9 percent), particularly due to lower demand for technology titles and the discontinuation of certain low-margin non-divested consumer titles.” Digital book sales […]
