Franklin Covey Co. sales increased 35 percent to $107.5 million for the quarter ended May 31, compared to $79.8 million for the same quarter last year, the Salt Lake City-based company reported Monday.
The company said the increase was primarily due to the impact of last year's merger between Franklin Quest and Covey Leadership Center.Earnings for the quarter decreased to $500,000 from $3.1 million during the same period of last year, mainly due to higher operating expenses and slower growth in product sales, the company said.
Earnings per share were 2 cents for the quarter, compared to 15 cents for the same quarter last year.
Product sales were $54 million, up 6 percent from last year, while same-store retail sales fell 7 percent. Training sales increased 103 percent, due primarily to the Covey merger.