Franklin Covey Co. F4Q08 (Qtr End 8/31/08) Earnings Call Transcript

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2008-11-17 10:58:15.0

Tags: Revenue, Call Transcript, Earnings, Booking, Franklin Covey Co., Operational Accounting, Finance, Seeking Alpha, Revenue, Call Transcript, Earnings, Booking, Franklin Covey Co., Operational Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from John Lewis – Osmium Partners.

John Lewis - Osmium Partners

Just a couple quick questions, I think if I heard you right, you said in the first quarter here, you've been – your team's won 400 new assignments?

Bob Whitman

We have.

John Lewis - Osmium Partners

And can you talk at all about just bookings in September, October?

Bob Whitman

Yes, in fact – oh, yes. We just show this through September but bookings in October and November to-date are up. We have two – we have kind of three things to look at, John, to get in – probably should have updated that slide all the way to now. The one is book days and that's really bookings for our own consultants to deliver and that's our primary focus.

A second category is contracts in place that might not be book days per se but includes like portals and other things like that, and the third is facilitator revenue. Our facilitator revenue, the big focus is in our fourth quarter and we had a big fourth quarter again and so the first quarter tends to be softer because of the strength of the fourth quarter there. And so we're down a little bit on the facilitator business. But our bookings to-date – our booking pays for October and November to-date and really year-to-date is up about – just a little less than 14% on booking pace.

Our contractual revenue is up substantially more than that. And so right now, that's what kind of makes up the revenue momentum. So if you had that revenue momentum continuing through last Saturday, it would look pretty much the same and be a little higher relative to last year.

John Lewis – Osmium Partners

Can you talk at all about anything on the new product line and of the business you're winning, is a lot of it from new products or just maybe a little color there?

Bob Whitman

I'd say that first of all, the positioning in the market place that we do for all of our offerings is just different. And it has been over the last years where whether it's the Seven Habits of Highly Effective People or execution, it's positioned around always helping people achieve certain key outcomes, which are sustained superior profitability and a winning customer loyalty and a winning approach.

 

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