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FC Franklin Covey

Franklin Covey Co. engages in consulting and training in the areas of strategy execution, customer loyalty, leadership, and individual effectiveness. It operates through the following three segments: Direct Offices, Education Practice, International Licensees and Corporate and Other. The Direct Offices segment includes sales personnel that serve the United States and Canada; international sales offices located in Japan, China, the United Kingdom, and Australia; governmental sales channel; and public program operations. The Education Practice segment includes domestic and international Education practice operations, which are focused on sales to educational institutions such as elementary schools, high schools, and colleges and universities. The International Licensees segment primarily comprised of royalty revenues received from these licensees. The Corporate and Other segment includes leasing operations, shipping and handling revenues, and certain corporate administrative expenses. The company was founded by Brent L. Bishop, Stephen R. Covey and Hyrum Wayne Smith in 1983 and is headquartered in Salt Lake City, UT.

Company profile

Ticker
FC
Exchange
CEO
Robert A. Whitman
Employees
Incorporated
Location
Fiscal year end
Former names
FRANKLIN QUEST CO, FRANKLIN QUEST COMPANY
SEC CIK
IRS number
870401551

FC stock data

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Calendar

8 Apr 21
13 Apr 21
31 Aug 21
Quarter (USD)
Feb 21 Nov 20 Aug 20 May 20
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Annual (USD)
Aug 20 Aug 19 Aug 18 Aug 17
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Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 Jan 21 Stephen D Young common shares Payment of exercise Dispose F No No 25.04 1,108 27.74K 203,176
25 Jan 21 Robert A Whitman common shares Payment of exercise Dispose F No No 25.04 3,958 99.11K 602,624
25 Jan 21 Clifton Todd Davis common shares Payment of exercise Dispose F No No 25.04 369 9.24K 27,793
22 Jan 21 Joel Clinton Peterson common shares Grant Aquire A No No 0 4,007 0 234,436
22 Jan 21 Dennis Grant Heiner common shares Grant Aquire A No No 0 4,007 0 76,939

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

57.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 76 77 -1.3%
Opened positions 9 6 +50.0%
Closed positions 10 15 -33.3%
Increased positions 24 20 +20.0%
Reduced positions 31 32 -3.1%
13F shares
Current Prev Q Change
Total value 232.43M 144M +61.4%
Total shares 8.14M 8.12M +0.3%
Total puts 0 0
Total calls 26.6K 10.7K +148.6%
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 1.24M $27.63M -2.5%
Pembroke Management 668.31K $14.88M -0.7%
Vanguard 610.79K $13.6M -6.3%
Dimensional Fund Advisors 607.07K $13.52M -1.1%
Punch & Associates Investment Management 516.9K $11.51M +9.8%
Oregon Public Employees Retirement Fund 400.03K $8.91M 0.0%
FMR 396.76K $8.84M +19.6%
Rice Hall James & Associates 381.77K $8.5M +1.4%
BAC Bank Of America 242.94K $5.41M +0.4%
Renaissance Technologies 231.4K $5.15M +3.0%
Largest transactions
Shares Bought/sold Change
National Asset Management 68.33K +68.33K NEW
FMR 396.76K +65.03K +19.6%
Punch & Associates Investment Management 516.9K +46.19K +9.8%
Millennium Management 43.18K +43.18K NEW
Vanguard 610.79K -41.38K -6.3%
GS Goldman Sachs 64.14K -35.99K -35.9%
Healthcare Of Ontario Pension Plan Trust Fund 28.9K -34.6K -54.5%
BLK Blackrock 1.24M -31.4K -2.5%
Two Sigma Investments 67.53K -27.36K -28.8%
Swiss National Bank 0 -26.2K EXIT

Financial report summary

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Management Discussion
  • COVID-19 was first identified in China during December 2019, and subsequently declared a pandemic by the World Health Organization.  Since its discovery, COVID-19 has surfaced in nearly all regions around the world and has resulted in government-imposed travel restrictions and business slowdowns or shutdowns in affected areas.  As a result, COVID-19 has impacted our business globally, including our licensees, through office and school closures.  In particular, these closures impacted our third and fourth quarters of fiscal 2020 as described throughout this Annual Report on Form 10-K for fiscal 2020.
  • After strong financial performance during the first two quarters of fiscal 2020, our financial results in the third and fourth quarters of fiscal 2020 were adversely impacted by the COVID-19 pandemic and the resulting closure of offices and educational institutions throughout the United States and in the countries where we operate direct offices and contract with licensee partners to deliver our offerings.  We closed our corporate offices and restricted travel to protect the health and safety of our associates and clients in an effort to slow the spread of the pandemic.  Our international direct offices also followed the same pattern of closures and restrictions on associate travel and delivery of our offerings.  These actions, and similar steps taken by most of our clients, resulted in decreased sales during the third and fourth quarters as previously scheduled onsite events, client-facilitated presentations, and coaching days were postponed or canceled.
  • Despite the difficult economic environment in the second half of fiscal 2020, we were pleased with the continued strength of our subscription sales and the quick pivot to delivering content live-online and through our other digital modalities.  Our subscription service clients are able to access content and programs from remote locations, which allows continued engagement of personnel and students during long periods of displacement from normal working or classroom conditions.  To be successful in our industry, it is important to create effective learning environments for our clients and students, and we believe our previous investments in digital and remote delivery modalities are key to surviving and then thriving in the current environment.  According to the Training magazine 2020 Training Industry Report, most companies expect to retain at least some aspects of remote learning after the COVID-19 pandemic is over.  We believe our ability to deliver content and offerings over a broad array of modalities to suit a client’s needs will prove to be a valuable strategic advantage, and we believe these capabilities will accelerate our recovery from the effects of the pandemic and will generate increased opportunities in future periods.  However, our recovery from the COVID-19 pandemic is dependent upon a number of factors, many of which are not within our control, such as the timing of re-opening national, state, and local economies; continuing effects of the pandemic on client operations; and other governmental responses to address the impacts of the pandemic.  We will continue to monitor these developments and their actual and potential impacts on our financial position, results of operations, and liquidity.
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