FRANKLIN COVEY CO. (NYSE:FC) Files An 8-K Other Events
Item 8.01 Other Events
Franklin Covey Co. (NYSE: FC), a leader in organizational performance improvement, announced today that the conference call to review the Company’s second-quarter fiscal 2020 financial results will take place on Thursday, April 2, 2020 at 5:00 p.m. ET (3:00 p.m. MT). The Company’s financial results are expected to be released after the close of the market on Thursday, April 2, 2020.
Bob Whitman, Franklin Covey’s Chairman and Chief Executive Officer, said “The current environment is, obviously, a unique, fluid and challenging one for everyone. At Franklin Covey we have led-out in supporting and protecting our clients and employees at this time of economic and social uncertainty.
In our experience, during times of uncertainty and fear, it is natural for there to be a period of time when people and organizations are busy adapting to change. During such times, normal business and decision-making processes are often interrupted. The past few weeks have been exactly this type of period. However, once organizations get their bearings, we find that their focus shifts to critical priorities including: (1) sharpening the focus and execution of their organization on their most important priorities; (2) building trust with all stakeholders in a time of uncertainty; and (3) transforming fear and uncertainty into high levels of engagement. Helping organizations achieve these kinds of results – results that require behavioral change, at scale, is exactly where Franklin Covey shines.
While the coming months will be full of uncertainty and challenges, we are grateful that we entered this period strong, operationally, strategically, and financially: (1) Operationally Strong – with continued broad-based momentum for the second quarter and for fiscal 2020, despite having had our operations in China and Japan disrupted for much of the second quarter; (2) Strategically Strong – our subscription model provides clients with the ability to access our best-in-class content and solutions across a wide variety of delivery modalities, including digital, live on-line, and in weekly micro-learning bursts. Additionally, our ability to serve our clients both digitally, and live on-online, has put us in a strong position to help the many clients who are now working remotely. Our investments in technology are also allowing us to work with clients who have the need to convert previously-booked onsite services to live-on-line or digital; and (3) Financially Strong – we entered this period with significant cash balances, and full availability of our revolving credit facility.
We know the days ahead will be very challenging, with lots of twists and turns, however, we expect to exit this period having significantly increased our strategic strength by helping our clients achieve their most important organizational results during these challenging times. We look forward to sharing our results for the second quarter.”
Interested persons can participate by dialing 800-708-4540 (International participants may dial 847-619-6397), access code: 49496403. Alternatively, a webcast will be accessible at the following website https://edge.media-server.com/mmc/p/ecbnx4pk.
A replay will be available starting April 2, 2020 (7:30 p.m. ET) through April 9, 2020 by dialing 888-843-7419 (International participants may dial 630-652-3042), access code: 49496403#. The webcast will also remain accessible through April 9, 2020 on the Investor Relations area of the Company’s website.
About FRANKLIN COVEY CO. (NYSE:FC)
Franklin Covey Co. is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group. The Strategic Markets segment includes its government services office, the Sales Performance practice, the Customer Loyalty practice, and a new Global 50 group, which is specifically focused on sales to large, multi-national organizations. The Education practice segment consists of its domestic and international Education practice operations, which are centered on sales to educational institutions, such as elementary schools, high schools, and colleges and universities. The International Licensees segment consists of its international licensees’ royalty revenues.
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