HOBOKEN, N.J. (AP) — Publisher John Wiley & Sons Inc. said Wednesday fiscal fourth-quarter profit fell 16 percent, hurt partly by the stronger dollar.
Profit for the quarter ended April 30 fell to $24.5 million, or 42 cents per share, from $29 million, or 49 cents per share, last year.
Revenue fell 7 percent to $403.4 million from $432.4 million a year earlier.
However, revenue grew 8 percent excluding the stronger dollar, boosted by growth of its Scientific, Technical, Medical and Scholarly division as well as its Higher Education segment.
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For the fiscal year, profit was nearly flat at $128.3 million, or $2.15 per share, from $128.9 million, or $2.17 per share last year.
Revenue fell 4 percent to $1.61 billion from $1.67 billion a year earlier.