|For the fiscal years ended April 30||2006||2005||% Change|
|earnings Per diluted Share|
|Return on Equity|
|Dividends Per Share|
|Class A Common||$0.36||$0.30||20%|
|Class B Common||$0.36||$0.30||20%|
- The adjusted amounts above exclude a $7.5 million, or $0.12 per diluted share, tax accrual recorded on the repatriation of dividends from European subsidiaries in the fourth quarter of fiscal year 2005. On May 10, 2005, the U.S. Internal Revenue Service issued Notice 2005-38. The notice provided for a tax benefit, which was recorded by the Company in the first quarter of fiscal year 2006, that fully offset the tax accrued by the Company on foreign dividends in fiscal year 2005. Neither the first quarter fiscal year 2006 tax benefit nor the corresponding fourth quarter fiscal year 2005 tax accrual had a cash impact to the Company. In addition, for the twelve-month period ending April 30, 2006, the adjusted amounts above also exclude a $6.8 million, or $0.11 per diluted share, tax benefit recorded in fiscal year 2006 related to the settlement of certain matters with tax authorities.
- The amounts reported for fiscal year 2004 exclude a net tax benefit of $3.0 million, or $0.05 per diluted share, related to the resolution of certain state and federal tax matters and an adjustment to accrued foreign taxes.
- In the fourth quarter of fiscal year 2002, Wiley finalized its commitment to relocate the Company’s headquarters to Hoboken, N.J. the relocation was completed in the first quarter of fiscal year 2003. these amounts exclude unusual charges for costs associated with the relocation of approximately $2.5 million pretax, or $0.02 per diluted share, in fiscal year 2003, and $12.3 million pretax, or $0.12 per diluted share, in fiscal year 2002.
- The amounts reported for fiscal year 2003 exclude a nonrecurring tax benefit of $12 million, equal to $0.19 per diluted share, resulting from a corporate reorganization that enabled the Company to increase the tax-deductible net asset basis of certain European subsidiaries.
- Fiscal year 1998 excludes a gain from the sale of the U.S. law publishing program of $21.3 million, or $12.2 million after tax equal to $0.19 per diluted share.
Note: the Company’s management evaluates performance excluding unusual and/or nonrecurring events. The Company believes excluding such events provides a more effective and comparable measure of performance. Since the adjusted amounts are not measures calculated in accordance with GAAP, they should not be considered as a substitute for other GAAP measures, including net income and earnings per share, as an indicator of operating performance. See the reconciliation of non-GAAP financial disclosures in the Management’s discussion and analysis section on page 17 of the Company’s 2006 annual report on form 10-K.