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FranklinCovey posts income

FranklinCovey financial picture continues to brighten, as the company on Tuesday reported its 12th straight quarter of operating improvements and full-year net income before preferred stock dividends.

For the fiscal year ended Aug. 31, the productivity-product company reported net income of $10.2 million before preferred stock dividends, a $20.3 million improvement over the prior year.

That equates to a 34-cent loss per common share after accounting for preferred stock dividends and recapitalization valuation non-cash charge. For the prior year, the company had a net loss of $10.1 million before the dividends, or 96 cents per share after accounting for the dividends.

Operating income totaled $8.9 million, which compares with a $9.1 million loss from operations a year earlier.

The company attributed the operating-results improvement primarily to an $8.1 million increase in sales plus better gross margins.

For the fourth quarter, the company reported a $1.5 million net loss before dividends, or 16 cents per share after accounting for the dividends. That compares with a $2.1 million loss before dividends and 21 cents per share after accounting for them.

The company's stock rose 5 cents Tuesday to close at $7.01 per share. During the past year, the price has ranged from $1.65 to $8.10 per share.