John Wiley & Sons, Inc. Issues FY 2013 Guidance; Sees Q1 2013 Charge Guidance
John Wiley & Sons, Inc. announced that for fiscal 2013, it projects mid-single digit revenue growth excluding FX, and EPS in a range of $3.50 to $3.55 including FX but excluding unusual items and the first quarter restructuring charge. Given the Company's ongoing transition and transformation to digital, it has identified certain activities that will be either discontinued, outsourced, or relocated to a lower cost region. As a result, Wiley will record an approximately $4.5 million charge for redundancy and related separation benefits in the first quarter of 2013. These charges are expected to be fully recovered within 18 months. The Company reported revenues of $1.783 billion in fiscal 2012.
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