John Wiley & Sons Inc. Annual Report 2011

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FY2011 Annual Report · John Wiley & Sons Inc.

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PROMOTING KNOWLEDGE AND UNDERSTANDING

jOhN WILEy & SONS, INc.
111 River Street
Hoboken, NJ 07030-5774
201.748.6000
www.wiley.com

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BF57617_Wiley-AR11 Cover.indd 1

7/14/11 10:57:31 AM

Vision Emerging markets
technologyMust-have content

Market-leading brands
perience Feedback
ative change
Enduring relationships
standing Dialogue
Communication
disciplinary Strategies
dynamics Culture
petitive advantage
Colleagues Platform-neutral
-driven Integrated access
GrowingInsight Leadership

Asia
1 Fusionopolis Walk
#07-01 Solaris South Tower
Singapore 138628
Telephone: 65.6643.8000
Facsimile: 65.6643.8008

Frontier Koishikawa Bldg., 4F
1-28-1 Koishikawa
Bunkyo-Ku
Tokyo 112-0002
Japan
Telephone: 81.3.3830.1221
Facsimile: 81.3.5689.7276

4435-36/7, Ansari Road
Darya Ganj, New Delhi
110 002
India
Telephone:
91.11.4636.0000/01
Facsimile: 91.11.2327.5895

Asian Distribution Centre
CWT Commodity Hub
24 Penjuru Road, #08-01
Singapore 609128
Telephone: 65.6302.9838
Facsimile: 65.6265.1782
Email: csd_ord@wiley.com

Wiley Customer Service
Support centers are located
in North America, Europe,
Asia, and Australia for
books, journals, and online
customers. To contact
a center near you, visit
www.wiley.com and select
“Contact Us” in the green
toolbar.

Dividends
On June 16, 2011,
the Board of Directors
approved a quarterly
dividend of $0.20 per share
on both Class A Common
and Class B Common
shares, payable on July 14,
2011, to shareholders of
record as of July 5, 2011.

Employment
John Wiley & Sons, Inc.,
is an equal opportunity
employer.

Certifications
The Company has filed
the required certifications
under Sections 302 and
906 of the Sarbanes-Oxley
Act of 2002 as Exhibits
31.1, 31.2, 32.1, and 32.2
to our annual report on
Form 10-K for the fiscal
year ended April 30, 2011.

Following the 2011 Annual
Meeting of Shareholders,
the Company intends to
file with the New York
Stock Exchange the CEO
certification regarding the
Company’s compliance
with the NYSE’s corporate
governance listing
standards as required by
NYSE rule 303A.12. Last
year the Company filed this
CEO certification with the
NYSE on September 29,
2010, without qualification.

To Contact the
Non-Management
Directors:
Non-Management
Directors
c/o Corporate Secretary
John Wiley & Sons, Inc.
111 River Street
Mail Stop 9-01
Hoboken, NJ 07030-5774
Email:
non-managementdirectors
@wiley.com

Investor Relations
Brian Campbell
Director, Investor Relations
Telephone: 201.748.6874
Email:
brian.campbell@wiley.com

Europe
The Atrium
Southern Gate, Chichester
West Sussex PO19 8SQ
England
Telephone: 44.1243.779777
Facsimile: 44.1243.775878
Email: customer@wiley.com

9600 Garsington Road
Oxford OX4 2DQ
England
Telephone: 44.1865.776868
Facsimile: 44.1865.714591

1 Rosenørns Allé
DK-1970 Frederiksberg C
Denmark
Telephone: 45.7733.3333
Facsimile: 45.7733.3377

101 George Street
Edinburgh EH2 3ES
Scotland
Telephone: 44.131.226.7232
Facsimile: 44.131.226.3803

Boschstrasse 12
D-69469 Weinheim
Germany
Telephone: 49.6201.6060
Facsimile: 49.6201.606328
Email: info@wiley-vch.de

European Distribution Centre
New Era Estate
Oldlands Way
Bognor Regis
West Sussex PO22 9NQ
England
Telephone: 44.1243.779777
Facsimile: 44.1243.850250

Australia
42 McDougall Street
Milton, Queensland 4064
Australia
Telephone: 61.7.3859.9755
Facsimile: 61.7.3859.9715
Email: brisbane@wiley.com

155 Cremorne Street
Richmond, Victoria 3121
Australia
Telephone: 61.3.9274.3100
Facsimile: 61.3.9274.3101
Email: melbourne@wiley.com

Australian Distribution Centre
33 Windorah Street
Stafford, Queensland 4053
Australia
Telephone: 61.7.3354.8455
Facsimile: 61.7.3352.7109

CORPORATE
HEADQUARTERS,
MAIN OFFICES,
AND
DISTRIBUTION
CENTERS

North America
Corporate Headquarters
John Wiley & Sons, Inc.
111 River Street
Hoboken, NJ 07030-5774
Telephone: 201.748.6000
Facsimile: 201.748.6088
Email: info@wiley.com
Web site: www.wiley.com

350 Main Street
Commerce Place
Malden, MA 02148-5020
Telephone: 781.388.8200
Facsimile: 781.388.8210

989 Market Street
San Francisco, CA 94103-
1741
Telephone: 415.433.1740
Facsimile: 415.433.0499

After October 1, 2011:
One Montgomery Street
Suite 1200
San Francisco, CA 94104
Telephone: 415.433.1740
Facsimile: 415.433.0499

10475 Crosspoint Blvd.
Indianapolis, IN 46256-
3386
Telephone: 317.572.3000
Facsimile: 317.572.4000

2121 State Avenue
Ames, IA 50014-8365
Telephone: 515.292.0140
Facsimile: 515.292.3348

U.S. Distribution Center
1 Wiley Drive
Somerset, NJ 08875-1272
Telephone: 800.225.5945
Facsimile: 732.764.2972
Email: custserv@wiley.com

5353 Dundas Street West
Suite 400
Toronto, Ontario
Canada M9B 6H8
Telephone: 416.236.4433
Facsimile: 416.236.8743
Email: canada@wiley.com

Canadian Distribution
Centre
6045 Freemont Blvd.
Mississauga, Ontario
Canada L5R 4J3
Telephone: 416.236.4433
Facsimile: 416.236.8743

This document is a publication of Wiley’s Corporate
Communications department. A multimedia version of
this report is available online at www.wiley.com.

This annual report is printed on FSC®-certified paper from
mixed sources.

SUSAN SPILKA Vice President, Corporate Communications

BERNHARDT FUDYMA DESIGN GROUP Concept and Design

BEN BAKER Portrait Photography

GRAYTOR PRINTING COMPANY Printing

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7/19/11 1:00:54 PM

People are talking.

About technology. About communication. About transformative change.

And about Wiley … how we are driving innovation in our 204-year-old
Company and gaining momentum in the shifting and competitive landscape.

Wiley’s 2011 Annual Report features excerpts from a conversation with our
new generation of leaders. Their dialogue highlights how we are adapting
to new dynamics in our markets; changing our formats, products, services,
processes, business models, and capabilities; and shaping the evolution
of our leadership team and Company — all while sustaining our vision,
mission, culture, and values.

What they’re saying, and what Wiley is doing, is defining success in an
industry in transition.

FRAming THe ConveRsATion

Over the past decade, Wiley has taken advantage
of the opportunities created by evolving tech-
nology to develop accessible and discoverable
content and services while addressing different
reading preferences and learning styles.

Wiley Online Library hosts one of the world’s
most extensive multidisciplinary collections
of online resources, covering the life, health,
and physical sciences, social sciences, and
humanities, delivering seamless, integrated
access to more than 4 million articles from
1,500 journals, 10,000 books, and hundreds
of multi-volume reference works, laboratory
protocols, and databases. Wiley Online Library
replaced Wiley InterScience, which launched
in 1999. This year we also celebrated the 10th
anniversary of our Online Books offering.

Over the past 24 months, there has been
explosive growth in the eBook channel due to
the proliferation of better, more affordable
smartphones, eBook readers, and tablets. It is
clear that professionals and consumers value
the immediacy and portability. Wiley is meeting
the demand for eBooks with approximately
23,000 titles available in a range of eBook
formats. When this year’s holiday season saw

eReaders and tablets as the “must-have” gift,
we were ready, converting thousands more
backlist titles to eBooks, available across all
renditions. The success of this project has
proven the enduring demand for our deep
backlist, which is a Wiley hallmark.

WileyPLUS is our next-generation online
teaching and learning environment. It replaces
the print text in an online environment by
re-formatting the content into learning paths
for students, and it integrates tutorials, self-
quizzes, and instant feedback on homework
and practice. In addition, our Wiley Custom
Select service enables instructors to create their
own custom print or eBook textbooks online
by choosing chapters from our textbooks and
lab manuals and adding their own material.
Responding to strong instructor interest, we
have added the ability to select sub-chapter level
content and edit publisher materials.

The increasing shift to knowledge-based
economies, rising investments in research
and education, the growing emphasis on
outcomes-based learning, the escalating need
for professional development and certification,

sTePHen m. smiTH
President and Chief Executive Officer

ellis e. Cousens
Executive Vice President and Chief
Financial and Operations Officer

WilliAm J. ARlingTon
Senior Vice President,
Human Resources

and the growth of new and emerging markets as
a source of revenue and content are fueling an
even greater need for Wiley’s brand of refined
content and services.

Many of the changes in our markets create
opportunities to extend our leading brands
into new products and services. Our core
strategy continues to be offering professional
and lifelong learning communities the expert
knowledge they need in the format they want,
print or digital, wherever they are. One way we
do this is through vertical Web sites providing
a concentrated experience with multiple
products and services for software developers,
travelers, HR professionals, and others. We
are developing further vertical Web sites in
subject areas such as finance and accounting,
architecture, technology, and leadership.

Wiley is serving the growing emphasis in
higher education on outcomes-based learning.
An efficacy study conducted last year in
collaboration with the University of Tennessee’s
Institute for Assessment and Evaluation found
that students using WileyPLUS at two-year
institutions improved their results by a full
letter grade, and their counterparts at four-year
institutions improved theirs by a half-grade.
WileyPLUS also helps less-prepared students
catch up to their peers.

The launch of Wiley Online Library last summer
dramatically improved user experience,
functionality, and search and elevated Wiley to
the position of second-most-visited academic
publisher on the Web, according to the Alexa
Web traffic metrics service. Wiley Online
Library’s searchable, browseable online formats
enable scientists, researchers, academics, and
professionals worldwide to discover and access
the information they need, whenever they need
it, wherever they need it.

Because no one can predict the exact direction
or pace of change, our short- and long-term
strategies enable us to keep up with the
demand for print while investing in innovative
technology-enabled products and services and
production and distribution capabilities that
allow us to do what we can’t do with print
on paper.

Years of developing and selling books have
established successful, print-driven practices.
The new online products and services we are
developing are not simply digital facsimiles of
print books; they require unique processes from
end to end. We have accommodated changes in
the past decade or so by modifying our existing
processes and systems to support our growing
digital and global business.

PeTeR BooTH Wiley
Chairman, Board of Directors

We are now engaging in a business support
transformation initiative to implement a global,
scalable, platform-neutral infrastructure
that will allow us to enable multi-output,
digital-first publishing, more customization,
and flexible pricing models. It will prepare us
to engage directly with our authors, readers,
and partners; meet their needs; and feed their
hunger for technology-enabled products and
services.

Our increased focus on publishing in a digital
environment has led to the development and
employment of colleagues with technological
capabilities. We have been investing heavily
in talent development throughout global
Wiley, and those investments are enabling
us to transition from a print publisher to an
online content publisher providing content and
services in multiple formats across multiple
platforms to customers around the world.

While much of Wiley’s growth will be driven by
digital products, we are not projecting a decline
in prints sales, at least not in the short term.

Changes in the product lifecycle of our print
business are yielding benefits to customers,
colleagues, and Wiley’s bottom line. Advances
in print technology allow shorter print runs,

enabling us to keep titles in print indefinitely.
Management of printing on a global as-needed
basis and optimal inventory management
enable us to fulfill orders to customers’ exact
specifications and deliver products quickly and
efficiently.

Not only is this good for business, it’s good for
the environment. By being more strategic about
where we print, how much, and when, we’re
able to better control inventory and minimize
potential waste. File sharing and printing
closer to a warehouse or the customer mean
we can reduce packing, shipping, storage, and,
ultimately, our carbon footprint.

The attributes that have made Wiley successful
over the past two decades — our focus on
meeting the needs of our customers, the power
of enduring and collaborative relationships with
stakeholders, our deep reservoir of high-quality
content, our performance-driven culture —
continue to be vital to our future.

Wiley-Blackwell’s position as the premier
publishing partner for scholarly societies is
the result of a combination of our powerful
worldwide resources and a strong service
culture that helps more than 750 societies better
serve their members and their communities,
especially through opportunities presented by
advances in digital technology.

sTeven miRon
Senior Vice President, Scientific,
Technical, Medical, and Scholarly

mARk Allin
Senior Vice President,
Professional/Trade

JosePH HeideR
Senior Vice President,
Global Education

We offer a suite of services that cover far
more than traditional publishing, including
consultation on branding/franchising, new
products/services, e-engagement strategies,
and more.

A key strength is our multi-channel
distribution strategy, through traditional
bricks and mortar, online retailers, our own
and third-party Web sites, and into libraries
and higher education. We do this around the
world. We continue to explore new channels
and work closely with intermediaries to ensure
we have the marketing and merchandising
strategies in place to make all our products
and services discoverable and accessible.

We have always prided ourselves on our
commitment to our customers and truly
understanding their needs. A new version of
WileyPLUS is launching this fall with major
enhancements that were guided by an extensive
student workflow study and are designed to
more effectively engage students and reduce
their anxiety. We have broken the content
into smaller chunks, with learning objectives,
customized learning paths, practice tests,
progress evaluations, and a calendar to track
course due dates.

Wiley’s able and talented colleagues around the
world continue to be connected by a robust and
admired culture, a culture that has produced a
new generation of leadership.

Wiley’s new leaders are all products of the
Company’s professional development and
succession planning programs. We are now
in the process of offering leadership training
to 250 high-potential colleagues utilizing a
customized version of our market-leading
Kouzes and Posner’s The Leadership Challenge
with its online Leadership Practices Inventory
instrument.

On May 1, 2011, Stephen M. Smith became
Wiley’s 11th President and CEO, succeeding
William J. Pesce, who retired after 22 years of
service to our Company. Steve has been with
Wiley for 18 years and in that time has led our
Asian, Australian, and European operations and
our worldwide publishing business.

Mark Allin, Steven Miron, and Joseph Heider
assumed the leadership of Wiley’s Professional/
Trade; Scientific, Technical, Medical, and
Scholarly; and Global Education businesses,
respectively, over the past year. All long-time
Wiley colleagues, they have played key roles in
developing Wiley’s strategic direction.

Our investments in people, technology, and new
content, products, services, and capabilities will
help us continue to fulfill our important mission
to contribute to advances in knowledge and
understanding around the world.

Once our customers access the content that
used to live between the covers of a book via the
World Wide Web, they want to search, organize,
and interact with it in ways we never imagined.

Print is still very much in the picture, but our
future growth will be digital, and a key part
of it will be the development of customizable,
technology-enabled products and services
that focus on measurable outcomes.

Wiley is evolving from being a provider of content in static form to being a provider of

dynamic new types of products and services our customers use to do their jobs, learn

what they need to know, and live their lives. We are increasingly focused on the ways

our customers interact with our products and services, and on understanding their

“pain points” and using our flair for innovation and creativity to come up with new

ways to activate our content in workflow solutions that help them achieve their goals.

lifelong learning

Activate

outcomes

Workflow

Wiley-BlackWell’s recent partner-
ship with CECity, the leading provider
of performance improvement and
lifelong learning platforms for the health
care industry, will provide health care
professionals with transformative ways to
interact with our content that will result
in measurable benefits to patients through
improved care and reporting processes.
CECity’s learning enhancement software
will be combined with Wiley’s content and
market intelligence to develop eLearning
services for physicians who are renewing
their Board Certification credentials or
want to improve their practices. Initially
we will use both our STMS and Pfeiffer
leadership content in these online learning
activities; we plan to reach deeper into
Wiley’s content reservoir going forward.

Another example of how Wiley is
pro viding the expertise, content, and
tools to support lifelong learning is a joint
venture between the Jossey-Bass Online
Teaching and Learning Conference and
Global Education’s Wiley Faculty
Network, which is leveraging Wiley’s
unique combination of businesses to
create faculty development programs.

Wiley is leveraging its role
as Microsoft’s official publishing partner
worldwide for all Microsoft Official
Academic Course (MOAC) texts to help
community colleges build their workforce
development programs, with an emphasis
on IT fields. We have provided the
Community College Workforce Alliance
in Virginia with custom MOAC print
texts, Wiley Faculty Network peer-to-
peer instructor training, and assistance
in becoming a Microsoft certification
test administrator. In addition, the State
University of New York (SUNY) Center
for Academic and Workforce Development
is tapping MOAC, WileyPLUS, and the
Wiley Faculty Network for its Advanced
Technology Training and Information
Network project, certifying more than
5,000 students to date in Microsoft
Office applications.

interact

Online assessment

Customizable

mobile apps

We have extended our leading print
franchise The Leadership Challenge into
market-leading online assessment and
training products. We are also producing
enhanced eBooks and mobile apps, as
well as interactive iApps for the iPad
platform, such as Lights, Camera, Capture
for iPad and Mark Bittman’s How to Cook
Everything for iPad. We are partnering
with new media platform providers
to deliver and promote our products.
Producer Mark Burnett (Survivor, The
Apprentice) and Coalition Films are
licensing our CliffsNotes literature
guides to create a series of humorous,
irreverent animated videos for AOL.com
on masterpieces by Mark Twain, William
Shakespeare, and others. In partnership
with audiobook publisher Brilliance Audio
(part of Amazon.com), we are offering
selected CliffsNotes titles on CD and as
downloadable MP3 files.

In the travel space, we have launched
new embedded multimedia viewers
in the hotel section of Frommers.com,
providing consumers with a richer and
more complete visual experience that
includes images, videos, and virtual tours
of the hotels they are researching, and our
Frommer’s mobile apps provide interactive
destination guides on the go.

elearning

Wiley’s reach around the world
enables us to bring our must-have
content and services to people who
might otherwise not have access. Our
contributions go toward strengthening
research and instruction, improving
local medical and agricultural practices,
empowering experts to find solutions to
difficult issues, and helping communities
to thrive or rebuild after natural disasters.

In recent years, we have demonstrated this
commitment by providing access to content
through programs such as Research4Life
and Cochrane Collaboration’s Evidence
Aid. Wiley colleagues also volunteer and
contribute on their own and to company-
supported initiatives like the Wiley Dream
Centre in Nepal, run with the Mitrataa
Foundation, which teaches critical business
and language skills to women and hosts
an after-school program for girls.

china has emerged from being an
underdeveloped Wiley market to being one
of the leading consumers of Wiley Online
Library content as well as an increasingly
important source of Wiley-Blackwell journal
articles, a trend we are building on with an
enhanced local presence and new services
for researchers in the country. Wiley is
developing online services for authors,
scholars, researchers, and professionals
through Chinese-language and bilingual
sites such as WileyChina.com, the Chinese
Scholars Network, and the Chinese version
of our MaterialsViews.com portal.

Wiley’s substantial business in India
continues to grow. We see India not only as
an important market for our products but
also as an important source of content,
innovation, and talent. This year we
opened an office in Dubai to capture more
opportunities in the Middle East, and we
are exploring opportunities to increase
our presence in Brazil, recognizing it for
its market potential and as a source of
quality research-based content. India, the
Middle East, and Brazil all present growing
opportunities for a wide array of custom
content, professional development programs,
and full-service curriculum development
services for higher education institutions.

The role of new and emerging markets as a
source of revenue and content has become
increasingly important for Wiley. Our ability to
act globally, aided by technology, has enabled
us to create consolidated centers of excellence
sited strategically around the globe. The cost
savings and efficiencies we are achieving
help us make ongoing investments in the
development of our business.

As powerful social, economic, and political forces continue to fuel the need for

Wiley’s brand of refined content and services, the Company is expanding our

presence around the world. digital delivery of our products enables us to provide

immediate, simultaneous global access to them.

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Wiley gloBal education conducted
a major initiative to help us engage with our
customers and offer them the best possible
service within our chosen segments. We
hired the Gallup organization to survey
instructors on their needs and expectations,
and then help us develop strategies and
metrics that would guide us in meeting and
exceeding those expectations. Our goal is
to understand customer engagement with
our brand so we can deliver fully on its
promise in our products, technologies,
and services.

We are also piloting a new customer
relationship management system from
Salesforce.com to provide us with a holistic
view of customers that is enabling us
to track all our interactions with them.
In time, the extension of such a system
across the Company will make visible for
the first time the multiple relationships
that customers have with Wiley — for
example, the instructor who adopts our
textbooks may also publish research in
our journals and buy our travel guides or
reference books. Informed with this level
of knowledge, we will be able to serve
customers more effectively than ever.

We dreW on extensive customer
input to launch PfeifferCustom, an online
service that allows leadership trainers to
create custom workbooks containing the
Wiley content they want with their own
material added in. Under the Pfeiffer
imprint, Wiley publishes market-leading
leadership, management, and team-
development materials, notably through
the Leadership Challenge franchise
and the works of Patrick Lencioni. In
the course of an in-depth survey of
professional trainers, we found that they
regularly spend long hours photocopying
portions of our books and mixing in
their own material to create handouts
targeting the particular groups they are
working with. The online PfeifferCustom
service, launched in April, allows them
to build custom training materials in
a fraction of the time, with the results
delivered as attractive, four-color
workbooks, branded with their logos.
Beta testers were asking to place orders
even before the service was available.

Through the power of enabling technology, we
are able to learn more than ever before about
how our customers use, value, and interact
with our products and services. Bringing that
knowledge to bear on the way we acquire,
develop, and market new products is a key
to our future success.

in order to focus on the needs of our customers, we need to know more about who

they are and how they interact with our products. one of the ways that we benefit from

our unique mix of businesses is that we interact with our customers in their personal,

academic, and professional lives. The introduction of better, cheaper smartphones,

tablets, and other reading devices has blurred the lines of demarcation in the delivery

of content for these different purposes. We are talking with our customers to learn

more about their workflows and processes, which will enable us to provide solutions

that help them achieve their goals.

market
unique mix

Technology
Holistic

value

Engagement

Use

Relationships

Customer
exceed Acquire

develop
interact

Content
Content

evolutionary
R&DR&D evolutionary
Fast-changing
Fast-changing
newnew

Growing demand
Growing demand

Wiley is on an evolutionary path in a fast-
changing environment. For more than two
centuries we have been a print publisher
with intermediaries, such as bookstores and
wholesalers, as our primary sales channels.
Technology has radically changed the way we
distribute content and the ways in which our
customers use that content.

Over the coming years, our strategies must
enable us to deliver content and services to our
customers however they want to acquire them.
We will provide more access to more content to
more people, with flexible business models that
closely reflect the value of our products and
services to our customers.

As channels for online content distribution proliferate, we are tapping new revenue

streams and developing new business models to deliver our content to customers

how they want it, when they want it, and where they want it, whether in print or digital

format. We are also engaging with customers, authors, and partners in new ways

through social media platforms. The Wiley youTube channel draws more than 20,000

visitors monthly with videos from across our global businesses. our Frommer’s,

For dummies, and Cliffsnotes Facebook fan pages generate new interaction with

customers, and journalists, authors, and customers follow our Twitter category

handles for breaking news and updates on events and promotions.

extending
extending
Flexible
Flexible
sales channels
safer channels

Expertise

Access

in recent years we have benefited
from new revenue streams, such as
journal backfile and individual article
sales. Now we are developing new
products and services that tap into
funding sources outside institutional
library budgets, such as R&D budgets and
corporate spending. We are also growing
our online advertising revenues on Wiley
Online Library and other Wiley Web sites,
and we have launched Brain and Behavior
and Ecology and Evolution as the first
two titles in the new Wiley Open Access
journal publishing program, offering peer-
reviewed research articles in a range of
broad-based subject disciplines in the life
and biomedical sciences.

leveraging Wiley’s portfolio
of well-known brands continues to be
an important strategy. Our iconic For
Dummies brand turned 20 this year with
more than 1,600 titles, more than 250
million books in print, and formidable
brand equity. We have released more than
40 Dummies mobile apps, with titles such
as Basic Spanish For Dummies and Digital
SLR Photography Toolkit For Dummies
reaching top selling positions within their
categories. We have launched the brand
into a promising new arena with Tech
Support For Dummies, a subscription
service for consumers and small businesses
around the globe that offers them live

tech help around-the-clock via phone
and chat, with remote desktop assistance,
for their hardware, software, wireless
networks, electronics, and more. It is the
fastest-growing such service in the market,
with 30% month-on-month growth. We
will also launch a series of For Dummies
eLearning courses in the fall in partnership
with Element K, a learning solutions and
online training company in the field of
Information Technology. Our Frommer’s
Unlimited B2B venture extends our travel
expertise to new audiences, providing
leading travel and lifestyle partners with
destination content that creates additional
value in their online offerings.

licensing of higher education
digital content to for-profit institutions
continues to grow through the efforts
of the Wiley Business Solutions Group.
Along with technology, demographic and
economic shifts are impacting our markets
in ways that bring opportunity. For-profit
career colleges are growing with the
increasing demand for workforce training
and professional development. These
schools are interested in purchasing Wiley
content directly from us, in contrast to
the traditional model in which professors
choose texts to be purchased by students.

To our

shareholders

Wiley is pleased to report another strong performance in fiscal year
2011. The shift to digital continues to enhance all our businesses,
resulting in new revenue models, new opportunities in emerging
markets, and margin and working capital improvements. While global
economies struggled to recover from recession, unemployment levels
remained high, and many of our customers faced unprecedented
challenges, we succeeded in growing market share and reporting
record highs for key financial measures, including revenue, earnings
per share, and free cash flow. At the same time, we reduced net debt
by almost one-half. our performance in this rapidly changing market is
testament to the success of our strategies, the quality of our content
and services, the strength of our relationships, the creativity of our
colleagues, and the importance of our mission.

FinAnCiAl ResulTs FoR FisCAl yeAR 2011

Fiscal year 2011 revenue advanced 3% to $1.74 billion, or 4% on
a currency neutral basis, resulting from revenue growth in all
segments. Adjusted earnings per share (EPS) for the full year
increased 12%, or 15% on a currency neutral basis and excluding
a $0.10 third quarter bad debt charge related to Borders and
$0.17 for impairment and restructuring charges reported in the
prior year. These growth rates include a $0.07 non-cash deferred
tax benefit related to a reduction in the U.K. statutory tax rate.
On a U.S. GAAP reported basis, EPS grew 16%, to $2.80, or 19%

on a currency neutral basis. For comparability to our full-year
guidance of 10% EPS growth for fiscal year 2011, adjusted EPS
on a currency neutral basis grew 12% excluding the charges in
both years and the $0.07 per share first quarter U.K. statutory
tax benefit.

At $376 million, cash flow from operations was 19% above
prior year. The Company continued to reduce net debt (debt
less cash and cash equivalents) significantly, to $252 million,
down from $495 million at the end of fiscal year 2010 and $720
million at the end of fiscal year 2009. In fiscal year 2011, Wiley

sTePHen m. smiTH
President and Chief Executive Officer

PeTeR BooTH Wiley
Chairman, Board of Directors

repurchased approximately 577,400 shares, at an average
price of about $48 per share, and increased its dividend
for the 18th consecutive year. For fiscal year 2012 the
Company increased its dividend by 25%.

attributed to the dramatically improved user experience,
functionality, and search offered by Wiley Online
Library, as well as the expansion of our customer base
and content offering.

Shared service and administrative costs grew 7% for the
year, driven by a 23% increase in technology spending.
We made investments in digital product development
and infrastructure that support all our businesses (such
as content management, eBooks, and customer data/
relationship management initiatives) as well as business-
specific initiatives such as Wiley Online Library (to
further drive our online journals, books, and advertising
business) and WileyPLUS (to support next-generation
products and services).

THRee gloBAl Businesses

scientific, Technical, medical, and scholarly (sTms)

Our STMS business is navigating well through a tight
library and corporate budget environment, thanks to the
outstanding quality of our content and relationships.
Growth continues to come from new society
partnerships, content licenses, emerging markets, and
incremental business around our content.

The largest of our three businesses, STMS serves the
world’s research and scholarly communities and is the
largest publisher globally for professional and scholarly
societies. STMS programs encompass journals, books,
major reference works, databases, and laboratory
manuals, offered in print, electronically, and through
mobile apps. Wiley Online Library hosts one of the
world’s most extensive multidisciplinary collections of
online resources covering the life, health, and physical
sciences; social sciences; and humanities. It provides
seamless, integrated access to more than 4 million
articles from 1,500 journals, 10,000 books, and hundreds
of multi-volume reference works, laboratory protocols,
and databases.

Since last summer, when Wiley Online Library replaced
Wiley InterScience (which launched commercially in
1999 as the online home of 300 peer-reviewed journals),
Wiley has risen to the position of second-most-visited
academic publisher on the Web, according to Alexa
Web traffic metrics. Over the past year, article or
chapter accesses increased nearly 50%. The growth is

Global STMS revenue for fiscal year 2011 increased 1%
to $999 million, or 4% on a currency neutral basis, a
result of increased journal subscriptions, new society
journal business, and digital book growth. Through
April 2011, subscription receipts for calendar year 2011
grew approximately 3% over calendar year 2010. Society
partnerships continued to thrive, with 37 new journals
signed in fiscal year 2011, 100 journal contracts renewed
or extended, and only four contracts not renewed.

Direct contribution to profit in fiscal year 2011 rose
5% both on a reported basis and on a currency neutral
basis and excluding the previous year’s impairment/
restructuring charges of $15 million. Revenue growth
and margin improvement due to outsourcing journal
production were partially offset by higher operating
costs from business growth. Including the impairment/
restructuring charges, direct contribution grew 9% on a
currency neutral basis.

Revenue from digital products represented 59% of total
STMS revenue in fiscal year 2011. Digital journal revenue
was 81% of total journal revenue, up from 79% a year
earlier, while digital book revenue increased 74% and
now accounts for 16% of total STMS book sales.

Professional/Trade (P/T) Even with the Borders
disruption, P/T showed year-over-year growth and
positive trends. Borders represented approximately 5%
of projected fiscal year 2011 P/T sales. Our multi-channel
strategy to provide customers with flexibility and choice
regarding where and how to purchase our products and
our deep reservoir of quality content continue to serve us
well, and eBooks continue to show outstanding growth.

Wiley’s P/T business serves professionals and consumers
alike, producing books, subscription content, and
information services, in all media. Our portfolio of
global brands includes For Dummies, Frommer’s, Betty
Crocker, Pillsbury, Better Homes and Gardens, Family
Circle, CliffsNotes, Webster’s New World, J.K. Lasser,
Jossey-Bass, Pfeiffer, Sybex, Weight Watchers, and
Bloomberg Press®.

Global P/T revenue grew 2% in fiscal year 2011, to $437
million, or 1% on a currency neutral basis. Growth in
business/finance and professional education was offset
by lower consumer sales due to the Borders disruption.
Excluding the Borders bad debt charge of $9 million
($6 million after tax) in the third quarter, fiscal year
2011 direct contribution to profit increased 5% to $105
million due to revenue growth and improved margins
from higher eBook sales. On a reported basis, direct
contribution to profit declined 5% to $95 million.

Digital revenue represented 10% of total P/T revenue,
up from 7% the previous year. Digital revenue includes
eBooks, online advertising, and content licensing. Fiscal
year 2011 eBook sales reached $23 million, or 5% of total
P/T revenue.

With the rapid uptake of eBook readers, tablets, and
smartphones, consumer demand for eBooks and
interactive apps has grown explosively, and we tapped
into Wiley’s deep reservoir of content and capacity
for innovation to meet that need. Anticipating the
popularity of these devices as 2010 holiday gifts, Wiley
converted thousands more backlist titles into eBook
format in time for the season. Their success is proof of
the enduring demand for our rich backlist across all three
businesses — a Wiley hallmark. We also released more
than 40 Dummies mobile apps, several Frommer’s mobile
apps, and a range of enhanced eBooks (which include
multimedia elements), as well as interactive iApps such
as Lights, Camera, Capture for iPad, which reached the
number one spot for photography on the iTunes App
Store, and Mark Bittman’s How to Cook Everything
for iPad.

global education Global Education had another strong
year, with growth and market share gains in all regions.
Gross margin continued its upward trend, increasing
to 66.7% through the full year from 65.5% a year ago,
reflecting increased sales of high-margin digital products
such as WileyPLUS and eBooks.

The mission of Global Education is to help teachers teach
and students learn. Global Education serves teachers;
undergraduate, graduate, and advanced placement

students; and lifelong learners worldwide, as well as
secondary school students in Australia. We publish
educational materials in all media, notably through
WileyPLUS, our integrated online suite of teaching
and learning resources. Wiley publishes materials in
the sciences, engineering, mathematics, business/
accounting, geography, computer science, statistics,
education, psychology, and modern languages.

For the full year, Global Education revenue was up
9% to $307 million, or 7% on a currency neutral basis,
with growth in all regions. The results were driven by
increased student enrollment, a strong front list in the
engineering/computer science and science categories,
and strong backlist sales reflecting revenue growth in
non-traditional and digital products. Non-traditional
and digital revenue includes WileyPLUS, eBooks, digital
content sold directly to institutions, binder editions,
and custom publishing. Direct contribution to profit
increased 17% to $101 million, or 15% on a currency
neutral basis. Top-line growth, improved gross margin
from higher digital revenue, and cost containment drove
the results.

Revenue from digital products now accounts for 16% of
the Global Education business, up from 13% the previous
fiscal year. Non-traditional and digital revenue combined
grew 26% to $84 million, representing approximately
27% of Global Education revenue, compared to 24% the
previous year. Revenue from eBooks grew 122% to $13
million. Gross margin was up for the third consecutive
year due to increased digital-only sales.

The transformation of Global Education’s business
from print to digital is well under way. WileyPLUS,
our online teaching and learning environment that
activates textbook content with tutorials and self-
quizzes and provides instant feedback on homework and
practice activities, has been the primary driver in this
transformation. In fiscal year 2011, WileyPLUS surpassed
one million users in more than 20 countries. Global
full-year sales of WileyPLUS grew 12% to $33 million.
WileyPLUS digital-only sales (not packaged with a print
textbook) grew 18% to $13 million and now represent
approximately 40% of total WileyPLUS billings. In the

U.S., student validation rates for WileyPLUS increased to
78% from approximately 73% the previous year.

leAdeRsHiP TRAnsiTion

During the past year, the Company transitioned to a
new generation of leaders, each of whom has been a key
contributor to Wiley’s success and is the product of a careful
succession planning and leadership development process.

stephen m. smith became Wiley’s 11th President and
Chief Executive Officer on May 1, 2011, succeeding
William J. Pesce, who retired on April 30, 2011, after 13
years as President and Chief Executive Officer and 22
years with the Company. Steve joined the Company
in September 1992 as Vice President, Wiley Asia.
In the following years, his portfolio grew to include
International Development, and his leadership
responsibilities were extended to Australia and Europe
before his appointment as Executive Vice President and
Chief Operating Officer in 2009.

Steve’s leadership skills and extensive global experience
will be critically important to the Company’s continued
success.

The leadership of Wiley’s three businesses also
transitioned over the past year. The appointments
of these new leaders represent important milestones
in Wiley’s remarkable history. Each of them has
contributed to Wiley’s unique culture and was developed
within the Company.

> mark Allin became Senior Vice President, Professional/
Trade, in August 2010. Mark joined Wiley in 2000 with
the acquisition of Capstone, a publishing company he
co-founded in 1996. He relocated to Asia in April 2003 to
lead Wiley's business in that region. He was named Vice
President and Chief Operating Officer of Wiley's global
P/T business in January 2010.

> steven miron became Senior Vice President, Scientific,
Technical, Medical, and Scholarly, in November 2010.
Steve joined Wiley in 1993 as Regional Manager for
Taiwan and Korea. After serving for eight years as Vice
President and Managing Director of Wiley Asia, he
was appointed leader of global STM book publishing.
Following the acquisition of Blackwell in 2007, Steve
assumed the role of Vice President and Managing

Director of the global STMS Physical Sciences business.
He was promoted to Vice President and Chief Operating
Officer of STMS in 2009.

> Joseph Heider became Senior Vice President, Global
Education, in May 2011. Joe joined Wiley in 1994
and was promoted to Vice President and Executive
Publisher in 1999; Vice President, Product and eBusiness
Development, in 2000; and Vice President and Chief
Operating Officer of global Higher Education in May 2010.

ouTlook

Moving forward, the ongoing shift to knowledge-based
economies, robust demand for outcomes-based learning,
and worldwide investments in research and development
are key drivers for us. On a currency neutral basis, we
expect mid-single-digit revenue growth and EPS in a
range from $3.15 to $3.20.

Wiley benefits from a legacy of great leadership, a deep
reservoir of high-quality content, and a global team
comprising many of the most talented individuals in our
industry. Our Company is admired for our culture and
our sustained track record of success. While markets have
not yet returned to their pre-recession levels of stability
and growth, we are confident in our ability to continue
to compete successfully and to thrive in the years ahead.
We will do this by staying true to our mission and values,
maintaining our strategic direction, focusing on the
needs of our customers, and galvanizing the vision,
dedication, and creativity of a diverse group of colleagues,
partners, and authors around the world.

sTePHen m. smiTH
President and Chief Executive Officer

PeTeR BooTH Wiley
Chairman, Board of Directors

Will’s extraordinary contributions to the success
and growth of Wiley cannot be overstated. We are
pleased that he has agreed to extend his service on
Wiley’s Board of Directors, where his experience
and insight will continue to be invaluable.

William J. Pesce

William J. Pesce joined Wiley in 1989 as head of Higher education

and the Company’s Canadian operations, leading the revitalization of

Higher ed through an effective strategy of rebuilding and investing

in the future. He provided thoughtful leadership as he guided the

Company through the most significant changes in our 204-year history.

Under Will’s leadership, as Wiley’s 10th President and Chief Executive Officer

from 1998 until his retirement on April 30, 2011, the Company experienced

sustained growth and gained major acquisitions such as Jossey-Bass, Hungry

Minds (including For Dummies, Frommer’s, CliffsNotes, and more), and Blackwell

Publishing (the largest in Wiley’s history), bringing us a wealth of brands, products,

talent, capabilities, and relationships. He guided us through a critical phase in our

transition to the digital age, with the vision of “All Wiley, All the Time, Everywhere,”

never losing sight of the ongoing value of the print medium, as exemplified by his

“print and electronic, not print or electronic” mantra. He oversaw Wiley’s alignment

into a truly global organization, with centers of excellence around the world where

colleagues convene to contribute to the Company’s achievements.

The aspects of Wiley’s success that can be measured — our strong financial results

and our customers’ embrace of our products and services, the duration and quality

of our relationships with stakeholders — spring from a culture that Will fostered,

promoted, and embodied with unparalleled effectiveness, and that is the key to our

creativity and a source of competitive advantage for the Company. The recognition

of colleagues as human beings first, professionals second, and the aspiration to

ensure that Wiley is “the place to be” for all stakeholders — ideas that reflect the

long-held philosophy of the Wiley family — were superlatively articulated by Will

and implemented throughout the organization. We are deeply grateful to Will for

having led with wisdom, skill, heart, and profound integrity, and we wish him all the

best that life can offer in the years ahead.

20 20

Financial
Highlights

For the fiscal year ended April 30

2011

2010

Excluding FX

Including FX

REVENUE

$1,742,551,000

$1,699,062,000

CHANGE

OPERATING INCOME

ADJUSTED a,c

$257,438,000

$257,710,000

GAAP

$248,148,000

$242,592,000

NET INCOME b

ADJUSTED a,c

$177,928,000

$154,174,000

GAAP

$171,889,000

$143,543,000

18%

23%

15%

20%

EARNINGS PER DIlUTED SHARE b

ADJUSTED a,c

GAAP

RETURN ON EqUITy b

ADJUSTED a,c

GAAP

DIVIDENDS PER SHARE

ClASS A COMMON

ClASS B COMMON

$2.90

$2.80

21%

20%

$0.64

$2.58

$2.41

15%

19%

12%

16%

25%

23%

5 BPs

(4 BPs)

5 BPs

(3 BPs)

$0.56

N/A

14%

2011 Revenue
By CORe BuSIneSS

gloBAl
eduCATion

18%

PRoFessionAl/
TRAde

25%

sCienTiFiC,
TeCHniCAl,
mediCAl, And
sCHolARly

57%

a. Fiscal year 2011 excludes a $9.3 million bad debt provision ($6.0 million after taxes) or $0.10 per diluted share related to the Com-

pany’s customer, Borders Group, Inc. (“Borders”).

b. Fiscal year 2011 includes a $4.2 million tax benefit, or $0.07 per diluted share, associated with new tax legislation enacted in the U.K.

that reduced the corporate income tax rate from 28% to 27%.

2011 Revenue
By LOCATIOn OF CuSTOMeR

oTHeR

CAnAdA

AusTRAliA

c. Fiscal year 2010 excludes intangible asset impairment and restructuring charges principally related to GIT Verlag, a B2B German-lan-

guage controlled circulation magazine business acquired in 2002, of $15.1 million ($10.6 million after taxes), or $0.17 per diluted share.

AsiA

3%
5%
5%

14%

note: The Company’s management evaluates its operating performance excluding unusual and/or nonrecurring events. Management
believes excluding such events provides a more effective and comparable measure of performance and a more balanced view of the
underlying dynamics of the Company’s business. Since adjusted operating income and adjusted earnings per share are not measures
calculated in accordance with GAAP, they should not be considered a substitute for other GAAP measures, including operating income
and earnings per share, as an indicator of operating performance.

Throughout this report, references to amounts “excluding foreign exchange” and “currency neutral” exclude both foreign currency trans-
lation effects and transactional gains and losses.

CAgR — Compound Annual Growth Rate Fx — Foreign Exchange
gAAP — U.S. Generally Accepted Accounting Principles BPs — Basis Points

euRoPe

22%

uniTed sTATes

51%

2121

Revenue ($ Millions)

Stock Price (nySe:JWA; 4/30 closing)

$50.93

$1,743

11% CAGR

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

$400

$800

$1,200

$1,600

$2,000

earnings per Diluted Share (u.S. GAAP)

$2.80

12% CAGR

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

Cash Provided by Operating Activities ($ Millions)

$376

12% CAGR

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

$50

$100

$150

$200

$250 $300

$350

$400

$50

$160

140

120

100

11% CAGR

Cumulative Total Return (Indexed)

n JWA n Russell 1000 n S&P Midcap 400 n Dow Pub

This graph provides an indicator of the cumulative total return
to shareholders of the Company’s Class A Common Stock as
compared with the cumulative total return on the Russell 1000®, the
Standard & Poors Midcap 400TM, and the Dow Jones Publishing
IndexTM for the period from April 30, 2006, to April 30, 2011. The
Company has elected to use the Russell 1000 Index® and the
Standard & Poors Midcap 400 IndexTM as its broad equity market
indices because it is currently included in those indices. Cumulative
total return assumes $100 invested on April 30, 2006, and
reinvestment of dividends throughout the period.

scientific,
Technical,
medical, and
scholarly

Providing must-have content
and services to researchers and
practitioners in research-based
professions

and sponsorship revenues;
strengthening digital product
development, delivery, and
performance; and other means.

> Grow market share in core
segments by enhancing and
enriching content; evolving
business models; expanding
society business; and
strengthening presence in
China, India, the Middle East,
and Brazil.

> launch products and
services that tap into new
sources of professional, B2B,
and R&D spend.

Blackwell Publishing, Blackwell
Reference Online, BMJ Books,
BPS-Blackwell, Compass,
Current Protocols, Ernst &
Sohn, Essential Evidence Plus,
Five-Minute Veterinary Consult,
GIT Verlag, IFT Press, ISTE,
PharmaFile, The Cochrane
library, UKVet, Verlag Helvetica
Chimica Acta, WIREs (Wiley
Interdisciplinary Reviews).

PuBlisHing CenTeRs
Australia, Denmark, Germany,
India, Japan, Singapore, U.K.,
U.S.

sTRATegies
> Accelerate digital evolution
of business by increasing
usage of Wiley Online library;
growing electronic book,
reference, online advertising,

PRoduCTs
Journals, encyclopedias,
books, databases, and
laboratory manuals in the life
sciences, health sciences,
physical sciences, social
sciences, humanities,
engineering, dentistry,
veterinary science, nursing,
and other research-based
professions, delivered in
print, online, and through
mobile apps.

CusTomeRs
Academic, corporate,
government, and public
libraries; researchers; clinicians;
engineers and technologists;
scholarly and professional
societies; students; and
professors worldwide.

disTRiBuTion
Multiple channels including
libraries, library consortia,
subscription agents,
bookstores, online booksellers,
and direct sales to customers.

BRAnds/FRAnCHises
Wiley, Wiley ACerS, Wiley
AIChE, Wiley-Blackwell,
Wiley-Dunod, Wiley-IEEE
Press, Wiley-OSA, Wiley-RMS,
Wiley-TMS, Wiley-VCH, Arnold,

> Improve business profitability
to fund innovation.

> Enhance profile with
governments, funding bodies,
and research institutions.

> Identify and address possible
future capability gaps.

> Foster performance-
based culture that enables
development and innovation.

> Build expertise and bolster
leadership in communities
we serve.

> Accelerate revenue and
margin growth through cross-
business collaboration.

FisCAl yeAR 2011
HigHligHTs
> Global STMS revenue
increased 4% on a currency
neutral basis, driven by
increased journal subscriptions,
new society journal business,
and digital book growth.

> Continued to strengthen
society relationships, with 37
new journals signed in Fy2011,
100 journal contracts renewed
or extended, and only four
journal contracts not renewed.

> launched Wiley Online
library, one of the world’s
broadest and deepest
multidisciplinary collections
of online resources, providing
access to millions of articles,
thousands of journals and
books, and hundreds of
reference works, laboratory
protocols, and databases.
Within months of its launch,
the site had become the
second-most-visited
academic publishing Web
site in the world.

> launched new mobile
applications, accessible via
several devices, for selected
health science journals,
allowing for the mobile delivery
of article listings and the
creation of a “reading list” of
desired articles, available from
the user’s desktop via Wiley
Online library.

> Partnered with CECity.com,
the leading provider of
cloud-based quality reporting,
performance improvement,
and lifelong learning platforms
for the healthcare industry, to
develop initiatives in several
healthcare specialties.

> Partnered with the British
Psychological Society — the
second-largest psychological
society in the world, with some
50,000 members — to publish
11 journals on its behalf,
and with the Association of
American Geographers to
publish, online and in 15 print
volumes, the International
Encyclopedia of Geography,
intended to be the definitive
reference work in its field.

> Increased backfile sales
31% over fiscal year 2010,
with strong showings in the
Americas, Asia, and Europe.

> led all major publishers
with the highest percentage
of journals (69%) that have
an Impact Factor — a
measurement of how frequently
peer-reviewed journals are
cited by researchers and,
therefore, a reflection of the
journal’s influence. Thirty-six
Wiley journals ranked first in
their subject categories.

> In collaboration with
international professional and
scholarly society partners,
launched Wiley Open
Access, a program of peer-
reviewed journals in the life
and biomedical sciences
that are available to read,
download, and share for free
immediately upon publication,
and introduced a range of
new, funded business models
to enable publication in open
access format.

> launched the Wiley Chinese
Scholars Network to support
Chinese authors in the social
sciences looking to publish
their work in English-language
journals.

Professional/
Trade

making a difference in the
professional and personal lives
of our target audiences

lasser, Jossey-Bass, Pfeiffer,
Pillsbury, RSMeans, Sybex,
Unofficial Guide, Visual,
Webster’s New World, Weight
Watchers, Wiley AARP, Wiley
Nautical, Wrightbooks, Wrox.

PuBlisHing CenTeRs
Australia, Canada, Germany,
India, Singapore, U.K., U.S.

sTRATegies
> Grow global revenue and
market share in targeted
categories by offering enriched
digital content delivered
through multiple platforms,
proven learning solutions for
professional and personal
development, and tools that
enable users to work more
effectively or enrich their lives.

PRoduCTs
Books, subscription content,
and information services
in all media. Subject areas
include business, technology,
architecture, cooking, psychol-
ogy, education, travel, health,
religion, consumer reference,
pets, and general interest.

CusTomeRs
Professionals, consumers, and
students worldwide.

disTRiBuTion
Multiple channels globally,
including major chains and
online booksellers, independent
bookstores, libraries, colleges
and universities, warehouse
clubs, corporations, direct
marketing, and Web sites.

BRAnds/FRAnCHises
Architectural Graphic
Standards, Audel, Better
Homes and Gardens, Betty
Crocker, Bloomberg Press®,
Capstone, CliffsNotes,
Fisher Investments Press,
For Dummies, Frommer’s,
Frommer’s Unlimited, GMAT®,
Howell Book House, J.K.

> Increase revenue from digital
products and services while
sustaining core business
and nurturing core brands as
indicators of value and trust.

> Focus digital investments
in vertical Web sites serving
defined communities, targeted
elearning and assessment
products, and high-value
workflow tools and services.

> Drive presence and revenue
in emerging markets such as
India, the Middle East, China,
and latin America by seeking
transformative partnerships,
alliances, and business
development opportunities.

> Through acquisitions,
partnerships, and internal
development, secure
capabilities needed to generate
multiple revenue streams and
product formats, as well as
scalable platforms to support
elearning or assessment
products and vertical Web
sites.

> Develop deeper relationship
with end-users, offering them
a wide range of choices in
acquiring and using our content
and services, wherever they
are and however they want to
use them.

> Frommer’s Unlimited
launched a private-label travel
section for AARP that includes
100 destination guides with
custom overviews; a bilingual
Alitalia destination guide
service covering 45 of the
airline’s key routes; and 220
custom country, city, and
regional overviews for Small
luxury Hotels.

> Partnered with RSMeans, a
division of Reed Construction
Group, to become its exclusive
publisher and distributor of
professional reference books
and to launch a branded series
of new reference books, in print
and digital formats, targeting
the commercial and residential
construction markets.

> launched Tech Support
For Dummies, a subscription
service that provides
consumers with round-the-
clock technical assistance for
hardware, software, wireless
networks, and more; also
introduced a For Dummies
channel on Blog Talk Radio’s
Internet airwaves, featuring
best-selling For Dummies
authors.

> Released lights, Camera,
Capture for iPad, our first
enhanced eBook (a cross
between a book and an app)
on the iTunes Store. With
more than 150 videos and
many interactive features for
the photography enthusiast, it
became the top-grossing app
in photography.

> launched PfeifferCustom,
the global custom delivery
platform for Pfeiffer training and
leadership content.

> Finalized an agreement with
the Tax Institute at H&R Block
to create exam prep products
for the new IRS Tax Preparer
certification. The program will
include books, eBooks, and
an online test bank, and will
eventually add a continuing
professional education
component.

> Partnered with Element K, a
learning solutions and online
training company in the IT
field, to produce For Dummies
elearning courses; the first
product is expected to launch
in Fy2012.

> Partnered with producer
Mark Burnett (Survivor, The
Apprentice) and Coalition Films
to develop short, animated
video versions of CliffsNotes
literature guides for AOl.com,
and with Brilliance Audio (part
of the Amazon.com group of
companies) to create a new
imprint to publish and distribute
audiobook editions of select
CliffsNotes guides, in CD
format and as downloadable
MP3 files.

> Penned agreement for
Wrox technology books to be
published in the Safari Books
Online library — the leading
on-demand digital library for
technology, digital media,
and business professionals,
including programmers and
administrators.

> Introduced Wiley Authorities
Speak, a mostly no-fee
speakers bureau, aligned with
Wiley’s mission of advancing
knowledge and understanding.

> Enhance sales and marketing
by acquiring or developing
capability and technology
to support direct customer
relationships.

FisCAl yeAR 2011
HigHligHTs
> Global P/T revenue increased
1% on a currency neutral basis,
with growth in business/finance
and professional education
offset by lower consumer sales
resulting from the Borders
disruption.

> Partnered with the American
Association of Retired Persons
(AARP) to become its exclusive
book publisher. The agreement
covers co-branded publishing
across a variety of categories
for the AARP’s 40 million
members.

> Introduced embedded
multimedia viewers in the hotel
section of Frommers.com,
providing consumers with
a richer and more complete
visual experience that includes
images, videos, and virtual
tours of the hotels they are
researching.

global
education

Helping teachers teach
and students learn
throughout the world

FisCAl yeAR 2011
HigHligHTs
> Global Education revenue
increased 7% on a currency
neutral basis, reflecting growth
in all regions. Results were
driven by increased student
enrollment, 26% revenue
growth in non-traditional
and digital products, and a
strong front list in engineering/
computer science and science.

> WileyPlUS digital-only sales
grew 18% for the fiscal year,
to 40% of total WileyPlUS
billings.

PRoduCTs
Educational materials in all
media for two- and four-year
colleges and universities and
for-profit career colleges, as
well as for secondary schools
in Australia and advanced
placement classes in U.S.
high schools.

CusTomeRs
Undergraduate, graduate, and
advanced placement students;
educators; and lifelong learners
worldwide, and secondary
school students in Australia.

disTRiBuTion
Multiple channels including
college bookstores, online
booksellers, and direct sales
to customers.

BRAnds/FRAnCHises
Wiley, Wiley Custom Select,
Wiley Desktop Editions, Wiley
Faculty Network, WileyFlEX,
Wiley/Jossey-Bass, Wiley/
MOAC, Wiley Pathways,
WileyPlUS, Wiley Visualizing,
Business Extra Select,
Jacaranda, JacarandaPlUS,
StudyOn.

PuBlisHing CenTeRs
Australia, Canada, Germany,
India, U.K., U.S.

sTRATegies
> Offer customers better
solutions by enhancing and
enriching content with tools
and services delivered on
multiple devices.

> Build customer-centric
organization by expanding
knowledge of and relationships
with customers.

> Create new revenue streams
and business models through
digital delivery and outcomes-
based learning.

> Coordinate global publishing
activities to support evolving/
expanding business models
and development of new
capabilities, and to achieve
greater efficiencies.

> Prioritize expansion into Asia,
the Middle East, and Brazil.

> Increase market share and
profitability through acquisitions,
and accelerate revenue and
margin growth through cross-
business collaboration.

> The number of courses in
Asia adopting WileyPlUS grew
35%, primarily in accounting
and sciences; Taiwan,
Indonesia, and Malaysia were
the top three adopters.

> Introduced a Fundamentals
of Physics WileyPlUS learning
Kit consisting of a WileyPlUS
Version 5 access code
bundled with a 200-page print
Companion — a compelling
format for today’s student.
WileyPLUS for Fundamentals
of Physics, 9th edition, became
the first publisher-developed
course to be certified by The
quality Matters Program,
a nationally recognized
organization with rigorous
standards for evaluating and
measuring the quality and
effectiveness of online design
and course content.

> Released a new version of
Wiley Custom Select that allows
instructors to choose material
and adjust the sequence at
the chapter and sub-chapter
level, format editable text,
rewrite sections, add and delete
images, insert math notations
and chemical structures, and
then preview the results before
submitting them for publication
and sale to students.

> Finalized an agreement
with the Community College
Workforce Alliance of Richmond,
Virginia, to provide a package
of custom Microsoft Office
Academic Course print
texts, Wiley Faculty Network
instructor training, Microsoft
IT Academy participation,
and a relationship with
Certiport allowing the Alliance
to administer Microsoft
certification tests.

The Wiley vision

John Wiley & sons, inc., aspires to be a valued and respected provider of products and services

that make important contributions to advances in knowledge and understanding around the

world, a role that is essential to progress in a healthy and prosperous society. While fulfilling

this role, we strive to build lasting, collaborative relationships with all our stakeholders. We are

dedicated to sustaining Wiley’s performance-driven culture, which requires our unwavering

commitment to the highest standard of ethical behavior and integrity in everything we do.

mission

Wiley’s mission is to be a global information and education
company providing content and services to professionals,
researchers, educators, students, lifelong learners, and
consumers worldwide. Wiley is dedicated to serving our
customers’ needs while generating attractive intellectual
and financial rewards for all our stakeholders — authors,
customers, clients, colleagues, and shareholders.

vAlues

Founded in 1807, during the presidency of Thomas Jefferson,
Wiley has evolved into one of the world’s most respected
publishing companies. We strongly believe in the enduring
value of collaborative relationships, built on a solid foundation
of trust and integrity. We strive to be the very best at all that
we do, which strengthens our competitive position and results
in consistently strong performance.

Wiley’s strength is based on the efforts and accomplishments
of a diverse group of people who are distinguished by their
integrity, creativity, talent, initiative, and dedication.

> We are responsible to our customers, who rely on the

quality of our products and services to meet their needs.
Service must be prompt and efficient, and prices should be
reasonable.

> We are responsible to our authors and partners, who

collaborate with us to create high-quality products and
services, and who deserve appropriate recognition and
compensation for their efforts.

> We are responsible to our colleagues, whom we respect as
human beings first, professionals second. We must provide
a reasonable sense of security, pleasant and safe working
conditions, fair compensation and benefit programs, and
opportunities for professional growth.

> We are responsible to our shareholders, who should realize
a fair return on their investments. Investors can rely on a
highly capable leadership team and an independent Board
of Directors distinguished by their commitment to effective
governance, ethical behavior, and integrity in all that we do.

> We are responsible to the communities in which we

work. These communities should benefit from our good
citizenship, including our support of educational and
cultural organizations.

goAls And sTRATegies

Wiley’s goal is to become the most successful company in
the markets in which we compete. Successful means:

> revenue growth that results in market share gains;

> strong profitability, cash flow, and return on investment;

> innovation that serves the needs of our customers;

> an attractive place to work that supports our performance-

driven culture.

Achieving this will require:

> becoming a more global, externally focused company

that provides outstanding customer experiences with our
products and services;

> providing more access to more content than ever in pursuit

of our vision of All Wiley, All the Time, Anywhere;

> enhancing existing capabilities and developing new ones

internally or through acquisition;

> optimizing our investments in enabling technology and
accelerating our migration from print to digital business
models;

> ensuring a competitive cost base and an efficient product

and business development process;

> building on our culture of collaboration and our ability to
foster long-term partnerships to deliver value to authors,
customers, clients, colleagues, and shareholders.

executive leadership Team

RigHT To leFT |

stephen m. smith, President and Chief Executive Officer
Joseph Heider, Senior Vice President, Global Education
William J. Arlington, Senior Vice President, Human Resources
ellis e. Cousens, Executive Vice President and Chief Financial and Operations Officer
mark Allin, Senior Vice President, Professional/Trade
steven miron, Senior Vice President, Scientific, Technical, Medical, and Scholarly

deBoRAH e. Wiley joined the Company in 1968 as a secretary in the College business, becoming the first
sixth-generation Wiley to be involved in the Company. She worked her way up to become one of the first two
female sales reps, the editor of a highly profitable Home Economics program, and, in 1983, General Manager,
Wiley learning Technologies. From 1986, she led Corporate Communications. From 1979 to 1998, she served
as a Director of the Company.

Through much of her career, until her retirement as Senior Vice President, Corporate Communications, at the
end of 2010, Deborah played an important role in industry organizations, notably as Chairman of the National
Book Foundation from 1996 to 2007 and as Chairman of the International Copyright Protection Committee
of the Association of American Publishers since 1994. In 2001 she established the Wiley Foundation, which
since 2002 has awarded the annual Wiley Prize in the Biomedical Sciences, and which she continues to chair.
She was a strong advocate for the Company’s corporate giving program, and in 2002 helped initiate Wiley’s
volunteer tutoring and mentoring program in Hoboken’s public schools, now replicated successfully at several
other Wiley locations.

Bonnie lieBeRmAn joined Wiley in 1990 as Publisher for the Sciences, Foreign language, and Psychology
group. She was soon promoted to Vice President and Editorial Director and played a key role in revitalizing the
Higher Education business. leading it from 1996 on, she oversaw the acquisition of major lists from Thomson
learning and Pearson Education, the formation of publishing agreements with partners including Microsoft and
the National Geographic Society, the launches of our WileyPlUS online teaching and learning environment and
our Wiley Custom Select service, the establishment of the unique Wiley Faculty Network, and the building of the
Global Education leadership team. Under Bonnie’s stewardship, Higher Education regularly outperformed the
competition while furthering its mission of helping teachers teach and students learn.

Bonnie retired as Senior Vice President, Global Education, on April 30, 2011. We join colleagues and partners in
wishing her the very best in the years ahead.

CoRPoRATe goveRnAnCe PRinCiPles

To promote the best corporate governance

practices, John Wiley & Sons, Inc., adheres

to the Corporate Governance Principles set

forth in the Corporate Governance section on

wiley.com and in the Company’s Proxy (online

at http://www.wiley.com/go/communications).

The Board of Directors and management believe

that these Principles, which are consistent with

the requirements of the Securities and Exchange

Commission and the New york Stock Exchange,

are in the best interests of the Company, its

shareholders, and other stakeholders, including

colleagues, authors, customers, and suppliers.

The Board is responsible for ensuring that the

Company has a management team capable of

representing these interests and of achieving

superior business performance.

BoARd oF
diReCToRs

Peter Booth Wiley
Chairman

Warren J. Baker 3
President Emeritus
California Polytechnic State
University at San luis Obispo

Richard m. Hochhauser 2
Adjunct Professor
New york University

matthew s. kissner 1, 2
President and Chief
Executive Officer
The Kissner Group llC

Raymond W. mcdaniel, Jr. 4
Chairman and
Chief Executive Officer
Moody’s Corporation

eduardo menascé 1,3
Retired President,
Enterprise Solutions Group
Verizon Communications, Inc.

William J. Pesce 1
Retired President and
Chief Executive Officer
John Wiley & Sons, Inc.

William B. Plummer 4
Executive Vice President and
Chief Financial Officer
United Rentals, Inc.

kalpana Raina 2, 3
Managing Partner
252 Solutions, llC

stephen m. smith
President and Chief
Executive Officer
John Wiley & Sons, Inc.

Bradford Wiley ii 4

1 Executive Committee
2 Audit Committee
3 Compensation Committee
4 Governance Committee

exeCuTive
leAdeRsHiP
TeAm

stephen m. smith
President and
Chief Executive Officer

ellis e. Cousens
Executive Vice President and
Chief Financial and Operations
Officer

mark Allin
Senior Vice President,
Professional/Trade

William J. Arlington
Senior Vice President,
Human Resources

Joseph Heider
Senior Vice President,
Global Education

steven miron
Senior Vice President,
Scientific, Technical, Medical,
and Scholarly

CoRPoRATe
oFFiCeRs

vincent marzano
Vice President and Treasurer

edward J. melando
Vice President,
Corporate Controller, and
Chief Accounting Officer

michael l. Preston
Corporate Secretary

gary m. Rinck
Senior Vice President
and General Counsel

CoRPoRATe
inFoRmATion

transfer agent
Registrar and Transfer
Company
10 Commerce Drive
Cranford, NJ 07016
Telephone: 800.368.5948
Email: info@rtco.com
Web site: www.rtco.com

independent
public accountants
KPMG llP
345 Park Avenue
New york, Ny 10154

annual meeting
To be held on Thursday,
September 15, 2011, at
9:30 a.m. local time, at
Company Headquarters,
111 River Street, Hoboken,
NJ 07030-5774