MAIN NEWS HEADLINES
February 1 – February 8, 2007 Edition
John Wiley & Sons
Marks 200 Years
HOBOKEN, NJ/1/30/07—William J. Pesce, President and CEO of John Wiley & Sons, Inc. (NYSE: JWa) (NYSE: JWb), today announced that the global publisher has reached its bicentennial year, an accomplishment it shares with only a small number of companies.
Countries celebrate bicentennials, not companies, said Mr. Pesce, who is the 10th president in Wileys 200-year history, a period in which there have been 41 U.S. Presidents. Founded in 1807, during the Presidency of Thomas Jefferson, Wiley has endured the War of 1812, the Civil War, two World Wars, and many other conflicts, as well as the Great Depression and the ups and downs of many economic cycles, to become one of the worlds most respected publishers, he noted.
Since our founding, Wiley has championed early American literature, produced textbooks that helped define fields of study, and published bestsellers and the works of Nobel Laureates. We have been an integral part of every generations journey, a valued source of information to help them meet their needs and fulfill their aspirations, said Peter Booth Wiley, Chairman of the Board, and one of the sixth generation of the Wiley family to be involved with the Company.
In the decades after Charles Wiley opened a print shop in lower Manhattan in 1807, he and his son John helped to establish a distinctly American literary tradition by publishing such authors as James Fenimore Cooper, Washington Irving, Herman Melville, Edgar Allan Poe, and many others. The Company also developed critical scientific, technical, and engineering knowledge during the second Industrial Revolution.
Today, Wiley serves a global community of customers, authors, society publishing partners, colleagues and shareholders with its deep reservoir of must-have content and services. Wiley has not only survived two centuries, we continue to evolve and prosper, remarked Mr. Wiley.
Wiley is already investing in its third century with the acquisition of Blackwell Publishing (Holdings) Ltd., one of the worlds foremost academic and professional publishers. As we mark our bicentennial, we are taking advantage of a rare opportunity. Together, we will deliver even greater value than we could as separate entities, by providing more content to more people than ever before in history, said Mr. Pesce. The acquisition is expected to be completed in early February.
The Wiley family, an independent Board of Directors, and a professional leadership team have delivered strong financial results and increased shareholder value. Over the past decade, Wileys revenue has increased by 11% per year (CAGR) and its earnings per share has risen by 17% per year (CAGR). Wileys sustained success has not gone unnoticed. In December 2006, Standard and Poors added Wiley to its MidCap 400 Index. Early in January, Wiley was named to the Forbes magazines list of the 400 Best Big Companies in America for the first time. Forbes screened over 1,000 American and foreign corporations with at least $1 billion or more in revenue, and a stock price of at least $5, ranking them against their industry peers on 12-month and five-year stock market returns, sales and earnings per share growth, and debt-to-capital ratios.
Wiley has been repeatedly recognized for its distinctive culture, earning a place on FORTUNEs 100 Best Companies to Work For in 2005 and 2006; Canadian Business magazines 2006 list of Best Workplaces in Canada; the U.S. Environmental Protection Agencys Best Workplaces for Commuters list each year since 2004; and Working Mother magazines 100 Best Companies for Working Mothers list in 2003. For the past five years, the Company was awarded the Employer of Choice for Women citation by the Australian Federal Governments Equal Opportunity in the Workplace Agency. In 1998, Wiley was selected as one of the Most Respected Companies, with a strong and well thought out strategy, by the Financial Times in a global survey of Chief Executive Officers. Wiley was the only publisher on that list.
Wiley is launching its bicentennial celebration today with the worldwide distribution of a video about the Company. On May 1, Wileys leadership team will enter its new fiscal year by ringing the closing bell at the New York Stock Exchange, where its shares are traded.
In May, Wiley will publish a richly illustrated history book entitled Knowledge for Generations: Wiley and the Global Publishing Industry, 1807-2007 by Timothy C. Jacobson, George David Smith, and Robert E. Wright. The book tells Wileys compelling story of sustained success, engaging personalities, and dramatic changes in the context of world events. The book also documents the long-term commitment of the Wiley family and its influence on the Companys business and culture.
As we celebrate our bicentennial, we look forward to collaborating with our authors, partners, shareholders, and colleagues to write the next chapter in Wileys remarkable history. Together, we will make a lasting difference in the lives of the people we serve, said Mr. Pesce.