Franklin Covey Co. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2018; Provides Revenue Guidance for the Second Quarter of Fiscal 2019
January 10, 2019 at 02:35 am IST
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Franklin Covey Co. announced unaudited consolidated earnings results for the first quarter ended November 30, 2018. For the quarter, the company reported net sales of $53,829,000 against $47,932,000 for the same period a year ago. Loss from operations was $653,000 against $3,252,000 for the same period a year ago. Loss before income taxes was $1,257,000 against $3,740,000 for the same period a year ago. Net loss was $1,357,000 against $2,392,000 for the same period a year ago. Net loss per basic and diluted common share was $0.10 against $0.17 for the same period a year ago.
For the second quarter, the company expects revenue to grow at a rate of 4% to 6% before moving back to the high single-digit revenue growth in the third and fourth quarters. This 4% to 6% allows for some expected impact of government business from the current federal government shutdown and for the final spillover impact from the nonrenewal of the Education foundation contract in last year's second quarter.
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 Earnings Results for the First Quarter Ended November 30, 2018; Provides Revenue Guidance for the Second Quarter of Fiscal 2019