Franklin Covey Co. Announces Unaudited Consolidated Financial Results for the Quarter Ended November 30, 2017; Provides Earnings Guidance for the Fiscal Year of 2018
January 04, 2018 at 09:10 pm
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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.
Franklin Covey Co. is a global company focused on performance improvement. The Companyâs sales are primarily comprised of training and consulting services and its internal reporting and operating structure, which are organized around two divisions: Enterprise Division and Education Division. The Enterprise Division, which consists of its Direct Office and International Licensee segments. The Education Division, which is comprised of its Education practice. Its Direct Office segment includes its sales personnel that serve the United States and Canada; its international sales offices located in Japan, China, the United Kingdom, Australia, Germany, Switzerland, and Austria; its government services sales channel; and its book and audio sales. Its International Licensees segments consists of its international licensees. Its Education Practice segment includes its domestic and international Education practice operations. It is also focused on leasing operations, shipping and handling.
Franklin Covey Co. Announces Unaudited Consolidated Financial Results for the Quarter Ended November 30, 2017; Provides Earnings Guidance for the Fiscal Year of 2018