Barrington Research Maintains Outperform and PT on Franklin Covey

Barrington Research reiterates its Outperform and price target on Franklin Covey Co.

on fourth quarter and fiscal year results that beat estimates on both revenue and adjusted EBITDA. Barrington commented, “Revenue in the fourth quarter was roughly flat (+0.7%) at $45.0 million, compared to $44.7 million last year, but was above our estimate of $44.0 million (-1.5%), despite a tough comp – Q4/10 revenues were up 29.6%. Adjusted EBITDA declined 4.0% to $6.6 million, from $6.9 million in Q4/10, and was also above our estimate of $6.2 million. Adjusted EBITDA margins were 14.7%, compared to 15.5% last year, above our estimate of 14.1%.” FC closed Tuesday's trading at $9.29, up 2.88 percent.