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FRANKLIN QUEST CO. REPORTS RECORD FOURTH QUARTER AND FISCAL 1992 RESULTS

 FRANKLIN QUEST CO. REPORTS RECORD FOURTH QUARTER
 AND FISCAL 1992 RESULTS
 SALT LAKE CITY, Oct. 8 /PRNewswire/ -- Franklin Quest Co. (NYSE: FNQ) today reported net income for the fiscal year ended Aug. 31, 1992, of $16.6 million, or $0.93 per share, on record revenues of $120.8 million, compared to net income of $10.8 million, or $0.61 per share, on revenues of $81.9 million for the same period a year ago. This represents a 54 percent increase in net income and a 47 percent increase in revenues for the year.
 Net income for the fourth quarter was $3.5 million, or $0.17 per share on 20,745,147 shares and revenues of $29.3 million compared to net income of $2 million, or $0.12 per share, on 16,992,690 shares and revenues of $21 million for the same period last year. This represents a 75 percent increase in net income and a 40 percent increase in revenues.
 Earnings per share for the fourth quarter and fiscal year were impacted by the additional shares issued in the company's June 1992 public offering.
 Commenting on the impressive growth of the company in 1992, Franklin's President Arlen B. Crouch said, "Needless to say, we are extremely pleased to have achieved the ambitious sales and net income goals we established for 1992. We have set aggressive goals for 1993 and expect to achieve them." Crouch indicated that sales improved as a result of increasing sales of Franklin Day Planners and a larger number of Time Management seminars being presented. Gross margins also improved to 59.1 percent from 58 percent. Seminar sales were up by 37 percent for the quarter and 31 percent for the year while total product sales increased by 40 percent for the quarter and 53 percent for the year.
 During the fourth quarter, Franklin opened an additional store in Minneapolis, and has plans to open four to six stores in the first four months of fiscal 1993. Franklin has also announced a new Pocket Day Planner (3 1/2 inches by 6 inches), a Macintosh version of Ascend and a new 4.0 version for Windows applications of Ascend, Franklin's time management software.
 Franklin Quest Co. is a provider of training seminars and the Franklin Day Planner, both designed to improve individual productivity through effective time management. Time Management seminars and Franklin Day Planners are sold by catalog, the company's direct sales force and a growing nume?r of company-owned stores across the United States.
 FRANKLIN QUEST CO.
 Consolidated Balance Sheets
 (In thousands, except share data)
 Aug. 31, 1992 Aug. 31, 1991
 Assets
 Current assets:
 Cash and cash equivalents $53,281 $4,070
 Accounts receivable, less
 allowance for doubtful accounts 11,447 8,540
 Inventories 17,038 11,679
 Short-term investments 4,912 ---
 Other assets 2,694 1,720
 Total current assets 89,372 26,009
 Property and equipment, net 22,683 14,607
 Other long-term assets 1,599 554
 Total assets $113,654 $41,170
 Liabilities and Shareholders' Equity
 Current liabilities:
 Accounts payable $11,311 $6,534
 Accrued liabilities 6,488 5,183
 Income taxes payable 510 ---
 Borrowings under lines of credit --- 2,250
 Current portion of long-term debt
 and capital lease obligations 2,288 2,002
 Total current liabilities 20,597 15,969
 Long-term debt and capital lease
 obligations, less current portion 10,610 8,885
 Total 31,207 24,854
 Shareholders' equity:
 Common stock, $0.05 par value,
 40,000,000 shares authorized;
 22,025,000 and 18,000,000 shares
 issued; 19,887,500 and 15,952,500
 shares outstanding 1,101 900
 Additional paid-in capital 82,043 257
 Retained earnings 3,531 19,084
 Equity adjustment from translation (53) ---
 Total 86,622 20,241
 Less 2,137,500 and 2,047,500 shares
 of treasury stock, at cost (4,175) (3,925)
 Total shareholders' equity 82,447 16,316
 Total $113,654 $41,170
 FRANKLIN QUEST CO.
 Consolidated Statements of Income
 (In thousands, except per share data)
 Three months ended 12 months ended
 Aug. 31, Aug. 31, Aug. 31, Aug. 31,
 1992 1991 1992 1991
 Sales:
 Direct sales:
 Seminars $7,447 $5,418 $27,931 $21,353
 Products 2,613 1,426 13,203 4,083
 Catalog 13,867 11,074 59,798 44,925
 Retail stores 5,371 3,079 19,861 11,564
 Total sales 29,298 20,997 120,793 81,925
 Cost of sales 11,465 8,911 49,422 34,397
 Gross margin 17,833 12,086 71,371 47,528
 Selling, general and
 administrative 11,120 8,393 41,200 28,852
 Depreciation and
 amortization 948 444 2,378 1,537
 Income from operations 5,765 3,429 27,793 17,139
 Interest income 548 66 745 198
 Interest expense (353) (294) (1,300) (1,234)
 Other income (8) 54 127 472
 Income before provision
 for income taxes 5,952 3,075 27,365 16,575
 Provision for income
 taxes 2,421 194 2,857 437
 Net income $3,531 $2,881 $24,508 $16,138
 Net income per share $0.17
 Unaudited pro forma data:
 Income before provision
 for income taxes $3,075 $27,365 $16,575
 Provision for income taxes 1,069 10,772 5,762
 Net income $2,006 $16,593 $10,813
 Net income per share $0.12 $0.93 $0.61
 Weighted average number of
 common and common
 equivalent shares 20,745,147 16,992,690 17,879,636 17,732,449
 Quarterly Sales Information
 (In thousands)
 Q1 Q2 Q3 Q4
 Fiscal year ended
 Aug. 31, 1990:
 Seminar sales $3,155 $3,542 $4,177 $4,111
 Direct product sales 345 475 465 599
 Catalog sales 8,500 6,478 5,601 8,411
 Retail store sales 1,498 2,057 1,461 1,819
 Total $13,498 $12,552 $11,704 $14,940
 Fiscal year ended
 Aug. 31, 1991:
 Seminar sales $5,287 $5,277 $5,371 $5,418
 Direct product sales 747 1,059 851 1,426
 Catalog sales 13,168 11,143 9,540 11,074
 Retail store sales 2,590 3,320 2,575 3,079
 Total $21,792 $20,799 $18,337 $20,997
 Fiscal year ended
 Aug. 31, 1992:
 Seminar sales $6,629 $6,505 $7,350 $7,447
 Direct product sales 3,281 4,050 3,259 2,613
 Catalog sales 18,312 15,517 12,102 13,867
 Retail store sales 4,321 6,107 4,062 5,371
 Total $32,543 $32,179 $26,773 $29,298
 -0- 10/8/92
 /CONTACT: Arlen B. Crouch, president, or Jay L. Atwood, CFO, 801-975-1776, both of Franklin Quest; or Linda M. Etzel of Carl Thompson Associates, 801-533-0303, for Franklin Quest/
 (FNQ) CO: Franklin Quest Co. ST: California IN: CPR SU: ERN


JB-KJ -- LA012 -- 0318 10/08/92 09:32 EDT
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