John Wiley & Sons (NYSE:WLY) reported third-quarter results on Thursday that underscored the company's ongoing efforts to streamline operations and focus on its high-growth research publishing business.
The company posted a net profit of $29.7 million for the period, reflecting a more disciplined cost structure following a series of divestitures.
On a per-share basis, the publisher reported earnings of $0.56.
When adjusted for one-time restructuring charges and amortization costs, earnings climbed to $0.97 per share.
This figure represents the company's underlying performance as it navigates the final stages of its "Value Creation Plan," aimed at shedding non-core assets to focus on its "core" Research and Learning and Outcomes segments.
Revenue for the fiscal third quarter reached $410 million.
While the company is currently in a transitional phase—having recently moved to sell its Knowledge Unbound and other professional learning assets—management noted that demand for open-access research and digital courseware remains steady.