Franklin Covey (NYSE: FC) reported Q1 EPS of ($0.10), $0.09 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $53.83 million versus the consensus estimate of $51.22 million.

Bob Whitman, Chairman and Chief Executive Officer, commented, “We were very pleased with the strong start to fiscal 2019, which exceeded our expectations and produced increased sales, increased gross profit, improved operating results, and a significant increase in Adjusted EBITDA in the quarter and for the latest 12 months. Our revenue grew 12%, or $5.9 million, to $53.8 million, with growth occurring in both our Enterprise and Education Divisions, and our Adjusted EBITDA improved $2.6 million over the prior year.”

Whitman continued, “Our first quarter fiscal 2019 performance in the Enterprise Division, which makes up nearly 80% of our total revenues, was very encouraging with sales growing 12% to $42.1 million, an increase of $4.6 million, compared with last year’s first quarter revenue of $37.5 million and 29%, or $1.3 million, growth in Adjusted EBITDA. The Enterprise Division’s fiscal 2018 results marked ‘the crossing of the bridge’ on the transformation of our Enterprise Division’s business model, and our strong first quarter fiscal 2019 results position us for accelerated growth in both revenue and profitability during the year. With continued strong Enterprise Division results and expected ongoing improvements in Education Division operations, especially in the fourth quarter of fiscal 2019, we are now positioned to generate significant growth in Adjusted EBITDA and cash flow during fiscal 2019 and in future periods.”

For earnings history and earnings-related data on Franklin Covey (FC) click here.