By Katherine Hamilton
Franklin Covey posted a smaller profit in its first quarter as higher operating expenses offset gains in subscriptions revenue.
The coaching company for the quarter ended Nov. 30 posted a profit of $1.2 million, or 9 cents a share, in the three months ended Nov. 30, compared with $4.9 million, or 36 cents a share, a year earlier.
Revenue rose 1% to $69.1 million. Analysts surveyed by FactSet forecast revenue of $70.2 million.
Operating expenses rose due to a $3 million increase in selling, general and administrative expenses, as the company hired more personnel as part of a restructuring. Enterprise division revenue was down about $1 million due to a decrease in revenue in China and Japan, and a decrease in international licensee revenue, the company said.
Revenue from Franklin Covey's education division increased 11%, driven by higher sales of classroom and training materials. Coaching and consulting and membership subscription revenues were up as well.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
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January 08, 2025 16:36 ET (21:36 GMT)
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