Seeking Alpha has published a transcript of the Reed Elsevier Group's 2008 earnings call.

Here's an excerpt:

[Sir Crispin Davis] Turning now to the individual businesses, Elsevier had a good year, good overall results and the internals I think are genuinely encouraging. Renewals went up again to 98%, and if you think about this, this is extraordinary, that among our 6000 customers across over 150 countries in the word that we can get 98% renewal rate in these times.

Usage rose up again well about to 20% in terms of actual downloads, average subscription contract more that 3 years, and the present round of renewals is going very well. For example, one of our more challenging clients, California Digital Library, we signed a five-year contract with them recently. . . .

Again, underlying this is a lot of encouraging data in terms of the quality of our content and publications. The last two years we've seen citation rates rise up. We've seen impact factors rise up. For example, Sale this year for the first time overtook Nature and Science in terms of impact factors. Article submissions were up 4% to 5%, usage up over 20%, renewals running at a very high rate. So, as well as the sort of financial performance numbers, I think the underlying performance metrics in Elsevier both on science and health look strong.

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