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Franklin Covey Co. reports developments tied to its role as a global leadership and organizational performance company. Its Enterprise and Education divisions provide content, assessments, training, consulting, coaching, technology and metrics through offerings such as the FranklinCovey All Access Pass and Leader in Me membership, supported by directly owned and licensee partner offices serving clients across many countries and territories.
Recurring news includes fiscal results, membership and subscription trends, invoiced amounts, non-GAAP measures such as Adjusted EBITDA and free cash flow, and updates on training, coaching and materials revenue. Company announcements also cover industry-specific solutions, leadership research from the FranklinCovey Institute, sales training programs, healthcare organization partnerships and recognition of its learning and development content.
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The Larry H. Miller Group of Companies (LHM Group) has announced a partnership with FranklinCovey (NYSE: FC) to implement a leadership development program called Unconscious Bias: Understanding Bias to Unleash Potential. This initiative aims to foster a culture of diversity and inclusion across the LHM Group, which operates over 80 companies in various sectors. The program will be accessible to nearly 10,000 employees annually for the next three years, with nearly 5,000 having already completed training since its launch in October 2020.
Franklin Covey Co. (NYSE: FC) reported strong second quarter results for fiscal 2021, ending February 28, with net sales of $48.2 million despite a decrease from $53.7 million in the same quarter of the previous year. The All Access Pass sales grew 13%, while related services exceeded prior year sales. Operating income improved to $0.8 million from a loss of $(0.4) million, supported by reduced operating expenses and enhanced gross margins at 77.5%. The net loss was $(46,000), compared to net income of $1.1 million last year. The company maintains a strong liquidity position with $40.3 million in cash.
Franklin Covey Co. (NYSE: FC) announced its second quarter fiscal 2021 conference call will occur on April 1, 2021, at 5:00 p.m. ET, following the release of financial results after market close. Interested participants can join via phone or through a webcast available on the company’s website. A replay of the webcast will be accessible from April 1 through April 22, 2021, ensuring investors can stay updated on the company’s performance in organizational performance improvement.
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Franklin Covey Co. (NYSE: FC) reported its Q1 fiscal 2021 results, highlighting a net loss of $0.9 million, or $(0.06) per share, compared to a loss of $0.5 million in Q1 2020. Total sales were $48.3 million, down from $58.6 million, influenced by the pandemic. However, subscription revenues from the All Access Pass grew 16%, with over 90% annual retention. Adjusted EBITDA reached $3.7 million, exceeding expectations. Cash flow from operations increased by 59%, reaching $10.9 million, and liquidity strengthened to approximately $50 million as of November 30, 2020.
Franklin Covey Co. (NYSE: FC) announced a conference call to discuss its first-quarter fiscal 2021 financial results on January 7, 2021, at 5:00 p.m. ET. The financial results will be released post-market on the same day. Interested participants can join via phone or access the webcast through the company’s investor relations website. The webcast will be available for a limited time, until January 21, 2021. Franklin Covey specializes in organizational performance improvement, offering resources to clients including Fortune 100 and 500 companies across multiple languages and formats.
Best Western Hotels & Resorts (BWHR) has partnered with FranklinCovey to implement a leadership development curriculum aimed at enhancing leadership skills among its General Managers across over 2,000 North American properties. The program, launching in December 2020, responds to the hospitality industry's challenges following the COVID-19 pandemic. FranklinCovey’s All Access Pass will provide virtual access to essential resources tailored to the specific needs of BWHR's hoteliers. This initiative emphasizes BWHR’s commitment to superior customer care and leadership excellence.
Franklin Covey Co. (NYSE: FC) has announced the release of the book The Leader’s Guide to Unconscious Bias, co-authored by key thought leaders including Pamela Fuller and Mark Murphy. This book addresses the pervasive issue of unconscious bias in workplaces, emphasizing its impact on organizational performance and the need for inclusive cultures. It offers over thirty tools for leaders to recognize and mitigate biases, fostering diversity and equity. Anne Chow, a co-author and CEO of AT&T Business, calls the book a timely contribution for organizations aiming to confront biases meaningfully.
Franklin Covey Co. (NYSE: FC) announced that it will hold a conference call to discuss its fourth-quarter and full-year fiscal 2020 financial results on November 5, 2020, at 5:00 p.m. ET. The financial results will be published after market closure on the same day. Interested participants can join via phone or access a webcast on the company's website. The recorded webcast will be available from November 5 to November 19, 2020.