Franklin Covey Co. announced unaudited consolidated financial results for the quarter ended November 30, 2017. For the quarter, the company reported net sales of $47,932,000 against $39,787,000 for the same period a year ago. The improvement in sales was primarily driven by the recognition of previously deferred high-margin subscription revenues. Loss from operations was $3,252,000 against $5,375,000 for the same period a year ago. Loss before income taxes was $3,740,000 against $5,879,000 for the same period a year ago. Net loss was $2,392,000 against $3,958,000 for the same period a year ago. Basic and diluted net loss per share was $0.17 per share against $0.29 per share for the same period a year ago. Adjusted EBITDA was $602,000 against LBITDA of $2,819,000 for the same period a year ago. Net cash provided by operating activities increased $5.2 million from negative $3 million last year to positive $2.3 million this year.

For the fiscal year of 2018, the company provided earnings guidance. Adjusted EBITDA is expected to be in the range of $10 million to $15 million. The company expects net sales to increase from $185 million to approximately $212 million, a 14% increase. Expects deferred revenue to increase by more than $15 million, a 36% increase.