Franklin Covey Co. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 28, 2015; Reaffirms Earnings Guidance for the Year 2016
January 08, 2016 at 02:35 am IST
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Franklin Covey Co. reported unaudited consolidated earnings results for the first quarter ended November 28, 2015. For the quarter, the company reported net sales of $45.218 million compared to $47.875 million a year ago. Income from operations was $1.760 million compared to $3.588 million a year ago. Income before income taxes was $1.296 million compared to $3.030 million a year ago. Net income was $0.790 million or $0.05 per diluted share compared to $1.828 million or $0.11 per diluted share a year ago. Adjusted EBITDA was $4.475 million compared to $5.879 million a year ago. Cash provided by operating activities increased $9.0 million to $7.1 million compared with net cash used for operating activities of $1.9 million in the first quarter of the prior year.
The Company affirms its previously-announced annual guidance range for Adjusted EBITDA of $34 million to $36 million, excluding the impact of changes in foreign exchange during the year.
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. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 28, 2015; Reaffirms Earnings Guidance for the Year 2016