This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Franklin Covey Reports Strong Third Quarter Fiscal 2012 Financial Results – Now Expects To Exceed The High End Of Its Previous Adjusted EBITDA Guidance Range For Fiscal 2012 Year

Franklin Covey Co. (NYSE: FC), a content and intellectual property company that creates and distributes world-class content, training, processes, and tools that organizations and individuals use to transform their results, today announced financial results for its fiscal third quarter ended May 26, 2012.

The Company reported strong financial results for the third quarter of fiscal 2012, with revenues increasing to $41.3 million compared with $40.9 million in the third quarter of fiscal 2011 and $30.5 million in the third quarter of fiscal 2010. Adjusted EBITDA for the quarter rose 10% to $5.8 million, compared with $5.2 million in the third quarter of fiscal 2011 and $2.0 million in the third quarter of fiscal 2010. For the trailing 4 quarters, Adjusted EBITDA totaled $24.1 million, up $2.6 million, or 12%, compared with the same period of fiscal 2011. With the significant flow-through of revenue to Adjusted EBITDA, the Company’s Adjusted EBITDA margin (Adjusted EBITDA as a percent of sales) increased to 13.9% in the third quarter of fiscal 2012 compared with 12.8% in the prior year. For the trailing four quarters ended May 26, 2012, the Company’s Adjusted EBITDA margin increased to 14.6% compared with 13.4% for the same period of fiscal 2011. Increased sales, improved operating margins, and a decreased effective income tax rate combined to more than double net income for the quarter to $1.6 million ($.09 per diluted share) compared with $0.7 million ($.04 per diluted share) in the third quarter of fiscal 2011. Cash flows from Operating Activities was $18.1 million for the trailing 4 quarters and the Company had cash totaling $6.5 million at May 26, 2012 with no borrowings outstanding on its line of credit facility.

Bob Whitman, Chairman and Chief Executive Officer of Franklin Covey, commented, “We are very pleased with the results achieved in our fiscal third quarter, and by the significant momentum we are seeing in our business, which drove a 23% increase in our Pipeline of Booked Days and Awarded Revenue during the quarter. We were also pleased that after achieving 34% revenue growth and 161% Adjusted EBITDA growth in last year’s third quarter, we were able to increase both revenue and Adjusted EBITDA in this year’s third quarter. We expect to achieve strong growth in both revenue and profitability during our fiscal fourth quarter, positioning us for continued strong growth in fiscal 2013.”

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs