We’re pleased that our total revenue somewhat exceeded our expectations and made the first quarter the best first quarter ever for our current business. Our results even slightly exceeded the very strong first quarter reports of last year, which was driven by the substantial revenue we received as part of the initial launch phase of that contract. And then, for the trailing four quarters ended November 26, revenue of $160.9 million was, represented a $16.6 million increase or 11.5% increase compared to $144 million in trailing four quarters revenue we had a year ago.

We’re pleased that our [results] during the [first] quarter is very broad-based with revenue growth of 9% in our four U.S. and Canadian geographic direct offices; revenue growth of 24% in our National Account practices, with Sales Performance practice growing 37% in the quarter, the Education practice growing 23%, and Customer Loyalty growing 11%.

We had revenue growth of 22.8% for international licensee partner offices and we’re excited that 18 of our 20 largest licensee partners posted revenue growth for the quarter. And we also had a small amount of revenue growth in our international direct offices. So that’s kind of the first headline for the quarter.

Second headline is that a higher increase in percentage of revenue flowed through to increases in adjusted EBITDA, operating income, net income and free cash flow. I’ll just maybe touch on each of those. Our adjusted EBITDA grew 12.2% for the first quarter to $6.4 million, which is up from $5.7 million for the first quarter in fiscal 2011. This exceeded our expectations and also made the first quarter our best first quarter ever for adjusted EBITDA.

We really feel particularly good about this since we’re up against a very tough comp from last year, where our adjusted EBITDA had increased by 63% or $2.2 million compared to the first quarter of 2010, driven by the initiation of the government contract. Interesting for us is historically the only quarter in a year in which we’ve really ever achieved adjusted EBITDA of $6 million has been in our seasonally strong fourth quarter.

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