John Wiley & Sons, Inc. Announces Executive Changes
Apr 15 15
John Wiley & Sons Inc. announced that President and CEO Stephen M. Smith has declared his intention to retire due to previously-disclosed medical reasons, effective June 1, 2015. The Board has elected Executive Vice President and Chief Operating Officer Mark Allin as his successor. Mr. Smith has served as Wiley’s President and CEO since 2011, guiding the Company through its transition from a largely print publisher to a knowledge company focused on digital content and solutions. He first joined Wiley in 1992 as Vice President, Wiley Asia before becoming Senior Vice President, International Development in 1996 and then Senior Vice President, Wiley Europe in 2007. He was promoted to Chief Operating Officer in 2009 before succeeding Will Pesce as President and CEO in 2011. Mr. Allin is a 14-year Wiley veteran, joining the Company with the acquisition of Capstone Publishing (which he founded) in 2000. He went on to serve as Managing Director of Wiley Asia, before being promoted to Executive Vice President, Professional Development in 2010 and then Chief Operating Officer in 2015.
SilverCloud Health and Wiley Launch the New Gold Standard for Online Behavioral Telehealth Solutions in the US
Apr 13 15
Silvercloud Health Limited and Wiley announced the official launch of the new Gold Standard in evidence-based online therapy with the ‘Space from Anxiety’ and ‘Space from Generalized Anxiety Disorder programs. Anxiety disorders are the most common mental illness in the U.S., affecting roughly 40 million people at a cost of more than $42 billion a year. Accessing effective care continues to be a growing challenge with a national ratio of one provider to every 790 individuals, and one-fifth of those affected do not receive mental health services needed. Additionally, for 45% of individuals, cost is a barrier to effective care with out-of-pocket costs for outpatient treatment reaching $5,000. The new Gold Standard is leveraging Wiley’s library of content along with the clinical expertise from U.S. behavioral health experts including Dr. Stefan G. Hofmann, Professor of Psychology, Department of Psychological and Brain Sciences, Boston University, and Dr. Deborah C. Beidel, Professor of Psychology and Medical Education, Department of Psychology, University of Central Florida. Together they are delivering evidence-based telehealth programs on SilverCloud Health’s technology platform built on over a decade of peer-reviewed research. The new HIPAA-compliant programs build on SilverCloud Health’s existing program suite, proven in clinical practice to allow healthcare organizations to increase engagement and reach six times more individuals, while delivering outcomes equivalent to face-to-face treatment.
John Wiley & Sons Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended January 31, 2015; Reaffirms Earnings Guidance for the Full Year of 2015
Mar 10 15
John Wiley & Sons Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended January 31, 2015. For the quarter, the company reported revenue of $465,905,000 compared to $457,933,000 a year ago. Operating Income was $54,042,000 compared to $73,380,000 a year ago. Adjusted operating income was $78,076,000 compared to $77,636,000 a year ago. Income before taxes was $53,260,000 compared to $70,390,000 a year ago. Adjusted income before income tax was $77,294,000 compared to $74,646,000 a year ago. Net Income was $42,548,000 compared to $52,489,000 a year ago. Adjusted net income was $58,904,000 compared to $55,398,000 a year ago. Diluted earnings per share were $0.72 compared to $0.88 a year ago. Adjusted diluted earnings per share of $0.99 compared to $0.93 a year ago.
For the nine months, the company reported revenue of $1,380,794,000 compared to $1,318,106,000 a year ago. Operating Income was $179,676,000 compared to $159,131,000 a year ago. Adjusted operating income was $203,555,000 compared to $191,244,000 a year ago. Income before taxes was $171,707,000 compared to $151,207,000 a year ago. Adjusted income before income tax was $195,586,000 compared to $183,320,000 a year ago. Net Income was $129,971,000 compared to $124,619,000 a year ago. Adjusted net income was $146,196,000 compared to $135,606,000 a year ago. Diluted earnings per share were $2.18 compared to $2.10 a year ago. Adjusted diluted earnings per share of $2.45 compared to $2.28 a year ago. Cash provided by operating activities was $154,151,000 compared to $153,797,000 a year ago. Additions to technology, property and equipment were $47,293,000 compared to $38,733,000 a year ago. Free Cash Flow was $79,986,000 compared to $84,604,000 a year ago. Net debt grew $110 million over prior year due to Talent Solutions acquisitions, which were acquired for a combined $214 million in cash.
The company reaffirms its fiscal year 2015 outlook of mid-single-digit revenue growth on a constant currency basis and adjusted EPS in a range of $3.25 to $3.35.