LJ News Wire on Wiley

[Ann Okerson <ann.okerson@yale.edu>]

---------- Forwarded message ----------
Date: Mon, 24 Mar 2003 08:31:58 -0500
Subject: Library Journal Academic News Wire: March 13, 2003

Library Journal Academic Newswire (TM)
The Publishing Report for March 13, 2003

In This Issue
I. NEWS
--CDL's eScholarship repository reaches major milestones
--Publishers, including AIP, start signing on to EBSCO,
RoweCom deal
--Despite soft economy, divine collapse, Wiley reports
strong earnings for third quarter
--Gay, lesbian, bisexual topics offered in online
encyclopedia
-Random fires Spanish language director, will discontinue
original Spanish publishing

[SNIP]

--------------------------------------------------
DESPITE SOFT ECONOMY, DIVINE COLLAPSE, WILEY REPORTS STRONG EARNINGS FOR 
THIRD QUARTER

Times may be tight for many publishers, but apparently not for John Wiley
& Sons. The publisher announced this week that earnings for the third
quarter ended January 31, 2003, were up a solid 15 percent from the same
period last year, with total revenue for the third quarter up six percent
to $221.2 million. Wiley officials said that gross profit as a percentage
of revenue improved during the quarter, principally due to its Hungry
Minds products and higher STM journal revenue. Wiley also singled out its
professional and academic programs in architecture, culinary/hospitality,
psychology, and teacher education as having "a solid third quarter," with
highlights including Irving Weiner's 12-volume HANDBOOK OF PSYCHOLOGY,
billed as "the first complete reference treatment" of the science and
practice of psychology.

U.S. Scientific, Technical, and Medical (STM) revenues increased over the
prior year by two percent in the quarter and three percent for the nine
months. Officials said the growth was due to "new and renewed Wiley
InterScience licenses and journal subscriptions." Globally, Wiley's STM
revenues increased nine percent for the third quarter and 11 percent for
the first nine months of the year. But Wiley also reported that the demise
of divine's RoweCom subscription service would reduce the publisher's
total revenue by as much as $3 million in calendar year 2003.

--