John Wiley & Sons (JW.A, JW.B) reported pre-market Tuesday in line Q4 adjusted earnings on lower revenues that narrowly beat forecasts, and guided for flat revenues and lower adjusted EPS in FY17 compared to a year earlier.
For Q4 ended April 30, the publishing company said adjusted EPS was $0.67 per share, down from $0.81 per share in the year-ago quarter but matching the consensus provided by Capital IQ.
GAAP earnings were $34.2 million or $0.59 per share, down from $46.9 million or $0.79 per share in the year-ago period.
Revenues fell to $434.3 million from $441.6 million a year earlier yet were slightly above the $428.2 million mean estimate.
For FY17, the company expects flat revenues with adjusted EPS down by mid single-digits when excluding foreign exchange and the favorable impact from shifting to time-based journal subscription agreements.
Shares of JW.A and JW.B were inactive in recent pre-market activity.
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