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Copyright&2005- All Rights Reserved 360安全中心2014年 11月 6日 星期四 17:09
Franklin Covey Continues Business Momentum
~Client Bookings Remain Strong~
~Forms New Partnership with the Graduate School~
~Successfully Hosts Global Education Conference~
SALT LAKE CITY--(Business Wire)--
Franklin Covey Co. (NYSE: FC), a global provider of training and consulting
services, today announced that, consistent with its previously announced strong
bookings in June, the Company`s client bookings and number of booked days for
the month of July were up considerably compared to the prior year. Additionally,
Franklin Covey formed a new partnership with the Graduate School to expand its
training in the government services sector, and successfully held its Global
Education Summit highlighting its offering for the education sector.
At the end of July, Franklin Covey and the Graduate School, an independent
institution that provides high-quality, educational opportunities to federal,
state and local government employees, launched a newly formed partnership to
deliver training to government managers and senior executives with its first
Executive Summit. The Graduate School will be a premier provider of Franklin
Covey solutions to the government. Beginning this fall, the Graduate School and
Franklin Covey will begin offering six courses specifically developed for
government employees that want to increase their personal effectiveness and the
execution of their organization`s mission.
On August 4 and 5, the Company partnered with California University at
Pennsylvania and AVI Foodsystems, Inc. to host its 3rd Annual The Leader in Me
Global Education Summit. This year, the conference attracted more than 1,000
educators from 33 states and 14 countries. The summit introduced educators at
all grade levels to a new paradigm of 21st century leadership where every
student is a leader and educators are equipped with proven leadership
methodologies and tools to instill a deep sense of responsibility and personal
leadership accountability in their students.
Bob Whitman, Chairman and Chief Executive Officer of Franklin Covey commented,
"We are pleased to report several key accomplishments during our fiscal fourth
quarter to date. Most importantly, we have been able to continue the positive
booking momentum that we experienced during the fiscal third quarter into June
and July, leaving us with a pipeline of business that considerably outpaces our
bookings at this point last year. As a result, we continue to believe that we
are well positioned to deliver fourth quarter results that represent a
significant increase compared to the fourth quarter of fiscal 2009, wrapping up
a strong finish to fiscal 2010. Given our outlook for improved fourth quarter
results, we also expect that by calendar year end we will pay down the balance
on our credit facility to essentially zero, and will be evaluating our future
uses of cash to determine where we can achieve the best returns for the Company
and our shareholders. We were pleased to announce our new partnership with the
Graduate School and the successful hosting of our Global Education Summit,
through which we will be able to reach new clients in the government services
and education sectors. We are encouraged by our sustained business momentum, and
are looking forward to reporting on our continued progress."
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 including those statements
related to the Company`s future results and profitability. Forward-looking
statements are based upon management's current expectations and are subject to
various risks and uncertainties including, but not limited to:
reductions in capital requirement expected levels of
general market acceptance of new products or
services and
the ability to achieve sustainable growth in
the expected impact of the Company`s rest
and other factors identified and discussed in the Company's most recent Annual
Report on Form 10-K and other periodic reports filed with the Securities and
Exchange Commission. Many of these conditions are beyond the Company`s control
or influence, any one of which may cause future results to differ materially
from the Company`s current expectations, and there can be no assurance the
Company`s actual future performance will meet management`s expectations. These
forward-looking statements are based on management`s current expectations and
the Company undertakes no obligation to update or revise these forward-looking
statements to reflect events or circumstances subsequent to this press release.
About Franklin Covey Co.
Franklin Covey Co. (NYSE:FC) (), is a global provider of
training and consulting services in the areas of leadership, productivity,
strategy execution, customer loyalty, trust, sales performance, government,
education and individual effectiveness. Over its history, FranklinCovey has
worked with 90 percent of the Fortune 100, more than 75 percent of the Fortune
500, and thousands of small- and mid-sized businesses, as well as numerous
government entities and educational institutions. Franklin Covey Co. has 40
direct and licensee offices providing professional services in 147 countries.
Investor Contact:
FranklinCovey
Steve Young
801-817-1776
Kate Messmer
203-682-8338
Media Contact:
FranklinCovey
Debra Lund
801-817-6440
Copyright Business Wire 2010
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Franklin Covey Announces Fiscal 2009 First Quarter Results
SALT LAKE CITY--(Business Wire)--
Franklin Covey Co. (NYSE: FC), a global provider of leadership and
productivity-based training and consulting services, today announced financial
results for its fiscal first quarter ended November 29, 2008. Reported net sales
for the quarter totaled $35.1 million, compared to $73.6 million in the first
quarter of fiscal 2008. The vast majority of this decline was attributable to
the sale of CSBU operations and the resulting reduction in product sales. The
net loss totaled $0.6 million, or $(0.04) per share, compared to net income of
$2.0 million, or $0.10 per diluted share, in the first quarter of fiscal 2008.
The Company`s financial results are difficult to compare to the corresponding
quarter of the prior year due to the sale of its Consumer Solutions Business
Unit (CSBU). Effective July 6, 2008, the CSBU was sold to a new private
equity-funded entity known as Franklin Covey Products, LLC. The CSBU was
primarily responsible for sales of the Company`s consumer products, including
the popular Franklin Covey PlannerTM, binders, and related accessories, to
consumers and small businesses through retail, wholesale, Internet, and call
center channels. Due to the Company`s 19.5 percent voting interest and
continuing involvement with Franklin Covey Products, LLC, the Company is not
presenting the financial results of the CSBU in a discontinued operations
"We are pleased to now have a single-minded focus on our core training and
consulting business. We anticipated our 2009 performance would start slowly and
build momentum over the course of the year. We are encouraged to see bookings
strengthen considerably in November and December and validate our earlier
assumptions. Our training and consulting offerings are targeted towards
enhancing employee productivity and leadership, developing customer loyalty, and
improving sales force effectiveness, which makes our services especially
relevant to our clients as they attempt to navigate through this difficult
economic environment," said Bob Whitman, Chairman and Chief Executive Officer of
Franklin Covey. "We remain committed to taking costs out of our business, and
concurrent with the sale of CSBU, implemented a restructuring plan to reduce the
number of domestic sales offices and decentralize certain sales support
functions. Combined with our expected sales momentum, we believe that these
actions to streamline our expense structure will position us well for a strong
second-half and overall performance in 2009."
Sales from the Company`s Organizational Solutions Business Unit, which primarily
consist of training and consulting sales, decreased $3.4 million compared to the
prior year. Domestic sales declined by $3.2 million, primarily due to planned
decreases in the number of public programs offered, a decline in facilitator
sales, fewer on-site events resulting from a decrease in days booked at
September 1, 2008 compared to the prior year, and lower sales force performance
training revenues. International sales declined by $0.1 million largely due to
lower sales in certain countries in which the Company operates directly owned
offices, partially offset by increased licensee royalty revenues.
Earnings Conference Call
On Thursday, January 13, 2009 at 5:00 p.m. Eastern time (3:00 p.m. Mountain
time) Franklin Covey will host a conference call to review its financial results
for the fiscal quarter ended November 29, 2008. Interested persons may
participate by dialing 1-866-700-7477 (International participants may dial
1-617-213-8840), access code: . Alternatively, a webcast will be
accessible at the following Web site:
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=102601&eventID=2058937.
A replay will be available through 11:59 p.m. Eastern time on January 22, 2009
by dialing 1-888-286-8010 (International participants may dial 1-617-801-6888),
access code: . The webcast will remain accessible through January 22,
2009 on the Investor Relations area of the Company`s web site at:
http://phx.corporate-ir.net/phoenix.zhtml?c=102601&p=irol-IRHome.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements are
based upon management`s current expectations and are subject to various risks
and uncertainties including, but not limited to: reductions in
capital requirement general market
acceptance of new products or services and
the ability to
achieve sustainable grow the expected impact of the
Company` and other factors identified and discussed in the
Company`s most recent Annual Report on Form 10-K and other periodic reports
filed with the Securities and Exchange Commission. Many of these conditions are
beyond the Company`s control or influence, any one of which may cause future
results to differ materially from the Company`s current expectations, and there
can be no assurance the Company's actual future performance will meet
management`s expectations. These forward-looking statements are based on
management`s current expectations and the Company undertakes no obligation to
update or revise these forward-looking statements to reflect events or
circumstances subsequent to this press release.
About Franklin Covey
Franklin Covey (NYSE: FC) is the global consulting and training leader in the
areas of strategy execution, customer loyalty, leadership, and individual
effectiveness. Clients include 90 percent of the Fortune 100, more than 75
percent of the Fortune 500, thousands of small- and mid-sized businesses, as
well as numerous government entities and educational institutions. Franklin
Covey () has 46 direct and licensee offices providing
professional services in 147 countries.
FRANKLIN COVEY CO.
CONDENSED CONSOLIDATED INCOME STATEMENTS
( in thousands, except per share amounts )
Quarter Ended
November 29,
December 1,
(unaudited)
Cost of sales
Gross profit
Selling, general, and administrative
Depreciation
Amortization
Income (loss) from operations
Interest expense, net
Income before income taxes
Income tax provision (benefit)
Net income (loss)
Net income (loss) per share available to common shareholders:
Weighted average common shares:
Sales Detail by Category:
Training and consulting services
Sales Detail by Business Unit:
International
Total Organizational Solutions Business Unit
Retail Stores
Catalog / e-commerce
CSBU International
Total Consumer Solutions Business Unit
Investor Contact:
Franklin Covey
Steve Young
801-817-1776
Kate Messmer
203-682-8338
Media Contact:
Franklin Covey
Debra Lund
801-817-6440
Copyright Business Wire 2009
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