John Wiley and Sons Inc. (JWA) Tuesday released the financial results for the fourth quarter and full year ended April 30, 2012, reporting fourth-quarter net income to $48.26 million or $0.80 per share, higher than net income of $28.57 million or $0.46 per share reported for the corresponding quarter last year.
The company attributed the rise in fourth quarter income and EPS to top line results and a 10% reduction in operating and administrative expenses, excluding FX.
Revenue for the fourth quarter increased 2 percent to $454.58 million compared with $444.91 million reported in the same quarter last year.
On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.73 on $454.65 million revenue for the fourth quarter. Analysts' estimates typically exclude one-time items.
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