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In 1984, the first Franklin Day Planner was produced, followed by a popular time management workshop. New designs and formats are created continually, and the FranklinCovey Planning System is now used by more than 15 million people worldwide.
In 1989, The 7 Habits of Highly Effective People by Stephen R. Covey was published, and training and consulting based on its concepts were developed. The book has become one of the top-selling business books of all time.
Franklin Quest and Covey Leadership Center announced their intent to merge January 22, 1997. The new company, FranklinCovey, was finalized on May 30 of that year.
Fourth Consecutive Quarter of Double-Digit Growth in Revenue and Adjusted EBITDA
~Revenue Up 34% to $40.9 Million~
~Adjusted EBITDA Improves 160% to $5.2 Million~
~Fiscal 2011 Outlook Now Expected at Higher End of Projected Adjusted EBITDA Range~
~Company Offers Preliminary Fiscal 2012 Adjusted EBITDA Outlook~
Franklin Covey Co. (NYSE:FC), a global provider of productized training and consulting services, announced financial results for its fiscal third quarter ended May 28, 2011.
Net sales for the quarter totaled $40.9 million, a 34% increase over $30.5 million reported in the third fiscal quarter of the prior year. The improvement in net sales had a significant impact on the Company’s operating results as Adjusted EBITDA increased 160% to $5.2 million compared with $2.0 million in the prior year. Pre-tax income also improved significantly, increasing by $3.1 million to $2.2 million compared with a loss of $0.9 million for the quarter ended May 29, 2010.
Fiscal Third Quarter 2011 Results
Sales from the Company’s regional direct offices that serve clients in the U.S. and Canada totaled $22.5 million for the quarter, a 47% improvement over the $15.3 million recognized in the third quarter of fiscal 2010. A major contributor to this performance was the government services group, which recorded a $3.6 million sales increase from the prior year primarily due to significant contracts with a division of the federal government that were awarded during the third and fourth quarters of fiscal 2010. Additionally, sales through the Company’s regional direct geographic offices grew by $3.7 million during the third quarter.
Sales from the Company’s international direct offices increased by 14% to $5.3 million compared with $4.7 million in the third quarter of 2010 primarily due to growth in the Company’s direct office in Japan. Although Japan suffered one of the worst natural disasters in its history during March 2011, publishing sales increased in Japan and training and consulting service revenues remained flat compared with the prior year.
As of May 28, 2011, the Company had $1.1 million in cash and cash equivalents compared with $3.5 million at February 26, 2011.
Year-to-Date Fiscal 2011 Results
Reported net sales for the three quarters ending May 28, 2011 were $115.8 million, a 26% increase compared with $92.2 million for the same period in the prior year. Adjusted EBITDA totaled $14.5 million, a $7.0 million improvement over Adjusted EBITDA of $7.5 million for the first three quarters of fiscal 2010. Pre-tax income also improved significantly and totaled $5.8 million compared to a $2.1 million loss for the three quarters ending May 29, 2010. Including the impact of income taxes, net income for the three quarters ending May 28, 2011 improved to $1.8 million, or $0.11 per diluted share, compared with essentially break-even net income in fiscal 2010. The improvement in the Company’s financial performance was consistent with the improvements noted for the quarter ended May 28, 2011 and included increased sales, consistent gross margins, and significantly reduced SG&A expenses as a percentage of sales.
Fiscal Year 2011 Outlook and Preliminary Fiscal 2012 Outlook
The Company expects to be toward the high end of its previously provided fiscal 2011 outlook for Adjusted EBITDA in the range of $18 million to $21 million, representing growth of approximately 24% to 45% compared with fiscal 2010 Adjusted EBITDA. The Company currently expects its Adjusted EBITDA in fiscal 2012 to grow by approximately 20% to 25% compared with fiscal 2011.
Choice Hotels International, Inc. (NYSE:CHH) announced that it will report second quarter 2011 results on Monday, August 1, 2011. The company will hold a conference call to discuss its second quarter 2011 earnings at 10:00 a.m. EDT on Tuesday, August 2, 2011. The dial-in number for the teleconference is 1-800-599-9816 and the access code is 24713398. International callers should dial 1-617-847-8705 and enter access code 24713398. A live Web cast will be available on the company's Web site, choicehotels.com, and can be accessed via the Investor Info link. The call will be recorded and available for replay beginning at 1:00 p.m. EDT on Tuesday, August 2, 2011 by calling 1-888-286-8010 and entering access code 84948188. International callers may access the replay by dialing 617-801-6888 and entering access code 84948188. The replay will be available through Friday, September 2, 2011. In addition, the call will be archived and available on choicehotels.com via the Investor Info link.
Choice Hotels International, Inc. franchises more than 6,100 hotels, representing more than 490,000 rooms, in the United States and more than 30 other countries and territories.Additional corporate information may be found on the Choice Hotels International, Inc. Web site, which may be accessed at www.choicehotels.com.
Cleantech Transit Inc. (OTCPK:CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project can generate shareholder returns as well benefit the Company's manufacturing clients worldwide.
Cleantech Transit, Inc. (OTCPK:CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
The biomass is used and produced throughout the world. It is the most inexpensive way of producing electricity. So far it looks like an inexhaustible natural resource. Biomass energy as a renewable energy source is capable of replacing fossil fuels. Agriculture biomass energy products add more worth to agricultural activities. The growth of biomass plants and crops produces oxygen and utilize more carbon dioxide present in the air.
Please visit Cleantech Transit, Inc. website www.cleantechtransitinc.com.
National Health Partners, Inc. (OTC:NHPR)
Rising health care costs raise health insurance premiums, which are also growing at a much quicker pace than overall inflation or workers' earnings. This in turn puts pressure on employers, who provide most coverage for those under the age 65,to shift costs to employees, reduce the comprehensiveness of their coverage or even drop coverage entirely. Rising premiums also make it more difficult for those without access to employer sponsored coverage to purchase insurance policies on their own, which contributes to the rise in the number of uninsured.
National Health Partners, Inc. is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called "CARExpress." CARExpress is one of the largest networks of hospitals, doctors, dentists, pharmacists and other healthcare providers in the country and is comprised of over 1,000,000 medical professionals that belong to such PPOs as CareMark and Aetna. National Health Partners, Inc primary target customer group is the 47 million Americans who have no health insurance of any kind. The company's secondary target customer group includes the millions of Americans who lack complete health insurance coverage.
National Health Partners, Inc., a leading provider of discount healthcare membership programs, announced the recent signing of two new significant marketing agreements. These two clients provide very different opportunities and continue to expand the reach of CARExpress into new marketplaces.
By launching their own unique internet marketing program, the first group should be able to provide a widespread push into the on-line market to produce an excellent volume of new CARExpress sales into the pipeline. In addition, the second group offers a reach into the wholesale marketplace where CARExpress will be wrapped into other programs to enhance the value of the overall package to the consumer. They would consider this non-traditional business and a great opportunity to expand their reach as well as recognition of the CARExpress program nationwide.
The company plans to announce the rollout of these new marketing campaigns as well as several others over the next few weeks.
For more information about National Health Partners, Inc. visit its website at www.nationalhealthpartners.com
Wyndham Worldwide Corporation (NYSE:WYN) announced that its securitized timeshare receivables conduit facility was renewed through June 2013. The two year facility bears interest based on variable commercial paper rates plus a spread or the LIBOR rate plus a spread and has capacity of $600 million. The current 364-day facility was due to expire at the end of September 2011.
Wyndham Worldwide Corporation, together with its subsidiaries, provides various hospitality products and services to individual consumers and business customers in the United States and internationally. For more information about Wyndham Worldwide, please visit the Company's website at www.wyndhamworldwide.com
Jarden Corporation (NYSE:JAH) announced that the Company will participate in the Oppenheimer 11th Annual Consumer Conference at the Four Seasons Hotel in Boston, MA. The presentation will be web cast live on Tuesday, June 28, 2011 at 10:40 am Eastern Time and archived through Tuesday, July 26, 2011. The web cast can be accessed at http://www.jarden.com.
Jarden Corporation manufactures, sources, markets, and distributes consumer products worldwide. The company was founded in 1991 and is headquartered in Rye, New York. For in-depth information about Jarden, please visit www.jarden.com.
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