Franklin Covey Co., Salt Lake City, had second-quarter net income of $35.1 million, compared with a net loss of $800,000 in second-quarter 2001. The company had sales of $103.3 million, down from the $131.5 million a year ago. The quarter ended Feb. 23.
The quarter’s earnings include $60.8 million realized when Franklin Covey sold Premier Agendas to School Specialties in December 2001. Franklin Covey would have had a net loss of $24.4 million in second-quarter 2002 based on its continuing operations, compared with net income of $2.7 million in second quarter 2001.
Both direct and retail sales fell during the quarter. The company’s catalog and e-commerce operations saw their sales drop from $28.3 million to $20.4 million, while retail store revenue dropped from $57.5 million to $45.8 million.
