Monday, April 26, 2010

Wiley STM: 3rd quarter profits up 18%

From John Wiley and Sons announces Third Quarter Fiscal Year 2010 Results:

"Global STMS revenue for the third quarter of fiscal year 2010 rose 13% to $228 million"

"Direct contribution to profit for the third quarter increased 18% to $89 million"

Comment: this is a 39% profit rate, at a time when library customers are hit hard by the effects of the Global Economic Crisis. Some of the profits are coming from outsourcing from high cost regions to low-cost regions. The U.S. is losing jobs in spite of all these profits.