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Blackwell adds to Wiley sales
John Wiley & Sons saw its fourth quarter profit drop slightly, but sales were up thanks to its acquisition of Blackwell Publishing in February, Business Week writes. For the quarter to 30th April, Wiley posted earnings of $14.3m, down 1% from $14.5m in the same period a year ago. Revenue shot up 46% to $390.2m from $266.6m a year ago. If revenue from Blackwell Publishing is excluded, sales were up 7% to $284.4m.
The Blackwell acquisition "exceeded [Wiley's financial projections] for the quarter and the integration is 'progressing according to plan'", according to Business Week.