FC - Franklin Covey GAAP EPS of $0.12 misses by $0.01 revenue of $61.8M misses by $0.55M

2023-03-29 16:27:35 ET

• Franklin Covey press release ( NYSE: FC ): Q2 GAAP EPS of $0.12 misses by $0.01 .
• Revenue of $61.8M (+9.2% Y/Y) misses by $0.55M .
• Gross profit for the second quarter of fiscal 2023 increased 7% to $47.2 million, compared with $44.1 million in fiscal 2022.
• Adjusted EBITDA: Adjusted EBITDA for the quarter ended February 28, 2023 improved 2% to $8.2 million compared with $8.0 million in fiscal 2022,
• The Company’s liquidity and financial position remained strong with more than $70 million of liquidity at February 28, 2023, which was comprised of $55.1 million of cash at February 28, 2023, and no borrowings on its $15.0 million line of credit, compared with $60.5 million of cash with no borrowings on its line of credit at August 31, 2022.

• Fiscal 2023 Year-to-Date Financial Results

• Consolidated revenue for the first two quarters of fiscal 2023 increased 11%, or $13.3 million, to $131.1 million compared with $117.9 million in the first half of fiscal 2022.

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