Wiley Reports Second Quarter 2018 Results (Includes Some OA Numbers)

Wiley Reports Second Quarter 2018 Results

OVERALL

• Revenue increased 6% to $452 million; +3% at constant currency
• Revenue increase was largely driven by growth in Research Journals (+3%), STM and Professional Publishing (+4%), and Education Services/Online Program Management (+6%), as well as growth from the Atypon acquisition (+$6 million).

RESEARCH SEGMENT

• Revenue: $228.9 million (+11% GAAP; +5% constant currency). The increase was driven primarily by the contribution from the Atypon acquisition (+$6 million), strong Open Access growth (+25%), and higher Licensing, Reprints, Backfile and Other revenue (+11%).
• Adjusted Contribution to Profit: $70.8 million (+4% constant currency). Improved performance reflected higher revenue offset primarily by Atypon expenses and higher royalty costs. GAAP Contribution to Profit of $71.2 million (+18%) also reflected impacts from foreign exchange and the timing of restructuring charges and credits.
• Society Publishing Partnerships: Two new society contracts were signed in the quarter with combined annual revenue of $3.0 million and ten were renewed with combined annual revenue of $6.6 million. None were lost.
• Wiley Digital Archives: In October, Wiley launched a new program to enable institutional customers to purchase digital access to unique or rare historical primary sources, digitized from partner societies, libraries, and archives around the world.