On Tuesday, John Wiley & Sons, Inc. (NYSE: JW.A) announced its financial results for the fourth quarter for fiscal 2018. Shares of the global research and education company remained unchanged in premarket trading Tuesday after reaching $68.9 per share on Monday.
According to the company, revenue for the fourth quarter increased 5.6% to $477.3 million. The increased was mainly due to 10.2% increase in revenue of research business and a 5.9% rise of its solutions business.
Net income for the fourth quarter was $54.1 million, increasing 15.8% from the same period last year. Adjusted earnings per share for the quarter was 94 cents per share, beating analysts’ estimates of 76 cents per share.
“We are pleased with our team’s performance this year, which landed us ahead of guidance, and we are energized about the future. Wiley’s strong brands, publishing assets, technology platforms, market relationships and capacity to invest position us well to benefit from the ongoing transformations in research and education,” Brian Napack, the President and CEO of the company, said in the statement on Tuesday.
“We will continue to invest in the success of our customers in critical areas such as open access publishing, researcher and student productivity, classroom-to-career pathways and workforce reskilling and upskilling. We are also investing in business optimization and operational excellence across the organization, which will result in improved speed, agility, and effectiveness,” said Brian.