John Wiley & Sons (A Shares) (NYSE:JW.A)
Q4 2021 Earnings Call
Jun 10, 2021, 10:00 a.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Good day, and thank you for standing by. Welcome to the Wiley fourth-quarter and full-year 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session.
[Operator instructions] I would now like to turn the conference over to your speaker today, Mr. Brian Campbell, vice president, investor relations. Please go ahead.
Brian Campbell — Vice President, Investor Relations
Thank you, John. Hello, everyone, and thank you for joining us. With me are Brian Napack, president and chief executive officer; and John Kritzmacher, chief financial officer. A few reminders to start.
The call is being recorded and may include forward-looking statements. You shouldn’t rely on these statements as actual results may differ materially and are subject to factors discussed in our SEC filings. The company does not undertake any obligation to update or revise forward-looking statements to reflect subsequent events or circumstances. Also, Wiley provides non-GAAP measures as a supplement to evaluate underlying operating profitability and performance trends.
These measures do not have standardized meanings prescribed by U.S. GAAP and therefore may not be comparable to similar measures used by other companies nor should they be reviewed as alternatives to measures under GAAP. Unless otherwise noted, we will refer to non-GAAP metrics on the call and variances are on a year-over-year basis and will exclude the impact of currency. After the call, a copy of this presentation and a playback of the webcast will be available on our new investor relations web page.
I’ll now turn the call over to Wiley’s president and CEO, Brian Napack.
Brian Napack — President and Chief Executive Officer
Well, good morning, everyone, and thanks for joining us. I want to start by acknowledging our colleagues, customers, and partners in India, Sri Lanka, and Brazil, and elsewhere around the world where they are still struggling mightily with COVID-19. We all look forward to a day when this terrible crisis is behind us. This past year’s profound health economic and social challenges continue to remind us, Wiley, of the importance of what we do.
We enable scientific and medical discovery, we power education, and we shape the workforce of tomorrow. To our work, Wiley, as a business, is committed to unlocking human potential, which we need now more than ever. Fiscal ’21 was a good year for Wiley. Our consistent strategic focus on open research and career-connected education paid off, and we saw strong financial performance and increasing momentum.
Our markets began to emerge from long periods of transition, and they demonstrated strong demand for fully differentiated digital products and services and for business models that work for both Wiley and for our customers. Long-term trends, such as open access and online education were pulled forward by the crisis, clarifying what the future of research and education will look like and strengthening our growth outlook. Wiley’s execution in this most challenging year was exceptional. Our team around the world adapted well to a fully virtual work environment and very fast-changing market conditions.
They took good care of our customers during a time of great need, while continuing to drive our strategy forward and improve our operation. Notably, our colleague engagement worldwide has risen significantly during this period. One reason for the high engagement is our people’s deep belief and the unique impact that they have on society year in and year out. The more researchers and…