(Adds Outlook)
John Wiley & Sons, Inc. (WLY) has revised up its annual earnings guidance. Matthew Kissner, Interim President and CEO of Wiley, said: "We've moved decisively on our improvement and optimization plans and expect a strong fourth quarter as Research continues to recover, Learning continues to outperform, and in-year cost savings accelerate."
For the full year, the company now expects adjusted income per share of $2.45 to $2.65 against previous outlook of $2.05 to $2.40.
Excluding items, EBITDA now projected to be in the range of $335 million to $355 million, higher than previous expectation of $305 million to $330 million.
WLY now expects adjusted revenue in the mid-to-high end of range against previous guidance of $1.580 billion to $1.630 billion.
WLY was trading up by 2.23 percent at $33.86 in the pre-market trade on the New York Stock Exchange.
For the third quarter, John Wiley & Sons reported Loss that increased from last year
The company's earnings totaled -$113.875 million, or -$2.08 per share. This compares with -$71.469 million, or -$1.29 per share, in last year's third quarter.
The company's revenue for the quarter fell 6.2% to $460.705 million from $491.368 million last year.
John Wiley & Sons Inc. earnings at a glance (GAAP) :
-Earnings (Q3): -$113.875 Mln. vs. -$71.469 Mln. last year.
-EPS (Q3): -$2.08 vs. -$1.29 last year.
-Revenue (Q3): $460.705 Mln vs. $491.368 Mln last year.
For comments and feedback: editorial@rttnews.com