Franklin Covey Co FC
Q1 2011 Earnings Call Transcript

Transcript Call Date 01/05/2011

Operator: Good day, ladies and gentlemen, and welcome to the First Quarter 2011 Franklin Covey Earnings Call. My name is Melanie, and I’ll be your coordinator today. At this time, all participants are in a listen-only mode. We will accept your questions at the end of this conference. As a reminder today's call is being recorded.

I would now like to turn the call over to Mr. Derek Hatch, Corporate Controller. Please proceed.

Derek Hatch - Corporate Controller, Central Services, Finance: Thank you, Melanie. On behalf of the Company, I'd like to also welcome you to our first quarter fiscal 2011 earnings call today and hope you enjoy today's presentation. Before we get started, I’d like to begin with our forward-looking statement presentation and remind you that this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are based upon management’s current expectations and are subject to various risks and uncertainties, including, but not limited to the ability of the Company to stabilize and grow revenues, the ability of the Company to hire productive sales professionals, general economic conditions, competition in the Company’s targeted marketplace, market acceptance of new products or services and marketing strategies, changes in the Company’s market share, changes in the size of the overall market for the Company’s products, changes in the training and spending policies of the Company’s clients and other factors identified and discussed in the Company’s most recent Annual Report on Form 10-K and other periodic reports filed with the Securities & Exchange Commission.

Many of these conditions are beyond our control or influence, any one of which may cause future results to differ materially from the Company’s current expectations, and there can be no assurance that the Company’s actual performance will meet management’s expectations.

These forward-looking statements are based on management’s current expectations and we undertake no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date of today’s presentation.

With that, I’d like to turn the time over to our Chairman and Chief Executive Officer, Bob Whitman.

Robert A. Whitman - Chairman and CEO: Thanks, Derek. I'm glad to have the chance to talk with all of you today and appreciate you joining us. Hope each of you had a chance to read the press release that was issued about an hour ago.

I'd like to address some detail behind that. I like to organize my comments today around kind of four headlines or themes. First, that we are very pleased with Company's strong performance and results in the first quarter.

Second, we are encouraged by the strong booking trends momentum we are continuing to see in the business. Third, based on these trends we expect to achieve significant continued improvement in both revenues and profitability during 2011 and beyond. Then fourth, we believe we have the opportunity to significantly accelerate our growth in the future perhaps beyond what we've talked about in the past and I'll read some headlines there.

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