John Wiley & Sons reported that revenue for the fiscal year ended April 30, 2014 rose 1%, to $1.78 billion, and operating income increased 4% to $206.7 million. Results include sales from the consumer books group that Wiley sold in fiscal 2013.
In Wiley’s professional development group, which had housed the consumer book division, sales fell 13% to $363. 9 million; revenue in fiscal 2013 included $45.5 million in sales from divested operations. Of its remaining operations, sales of print books fell 8% to $236.3 million, but sales of digital books rose 10 to $47.7 million. Online training sales rose to $40.2 million from $29.8 million and other revenue was flat at about $39 million. Business and finance remained the division’s largest category and sales rose 5% to $170. 8 million, accounting for 47% of revenue.
In Wiley’s education segment, sales rose 10% to $367.0 million. Print text sales fell 11% to $163.1 million and sales of digital books rose 19%, while sales of WileyPlus increased 21%. Sales from its Deltak unit rose to $70.2 million from $33.7 million. In its largest group, research, revenue rose to $1.04 billion from $1.01 billion.
For fiscal 2015, Wiley expects sales to increase in the the mid single-digit range and earnings per share to be in the $3.25 to $3.35 range.
