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Educational Development Corporation (EDC), traded under the symbol EDUC on NASDAQ, is a prominent United States-based publisher specializing in educational books for children. The company operates through two main segments: PaperPie and Publishing. The Publishing Division markets its diverse range of books and educational supplies to retail accounts including bookstores, schools, toy stores, gift shops, and museums through various channels, such as commissioned sales representatives, trade and specialty wholesalers, and an internal telesales group.
EDC is the exclusive U.S. publisher of noteworthy lines like Kane Miller Books and is also known for Learning Wrap-Ups and SmartLab Toys. Additionally, it is the exclusive U.S. distributor of children’s books from the renowned UK-based Usborne Publishing Limited. EDC’s products reach the market through around 4,000 retail outlets and independent Brand Partners who utilize social media, book fairs, home showings, and other events to promote sales.
Recent strategic moves include the planned sale and leaseback of its headquarters and distribution warehouse, the Hilti Complex. This step was taken to reduce debt, boost liquidity, and improve profitability. The Hilti Complex houses multiple buildings offering significant rentable office and warehouse space, part of which is already under a long-term lease with a third-party tenant. The sale proceeds will be used to pay off the company’s bank borrowings, reflecting the company's commitment to financial stability.
EDC has also executed an amendment to its credit agreement to increase borrowing capacity and extend the maturity date, which will enable further inventory replenishment and product additions. The company is focused on reducing debt, managing inventory efficiently, and strategically deploying resources to enhance shareholder value.
In fiscal 2024, EDC launched a new e-commerce platform to improve user experience and support revenue growth. Despite economic challenges, the company remains dedicated to its mission of providing high-quality educational products and maintaining a robust presence in the market through innovative strategies and strong partnerships.
With a history of resilience and strategic financial management, Educational Development Corporation continues to navigate the evolving economic landscape while remaining committed to its stakeholders and operational excellence.
Educational Development Corporation (EDUC) reported impressive financial results for the fiscal year ending February 28, 2021, with net revenues of $204.6 million, marking an 81.1% increase over the previous year. Net earnings surged to $12.6 million, a 125.0% rise, translating to earnings per share of $1.50, up 120.6%. The fourth quarter also showcased significant growth with revenues of $40.3 million, up 100.1%. The company attributed its success to increased demand for educational products and a substantial rise in active sales consultants, now at 57,600.
Educational Development Corporation (NASDAQ: EDUC) announced the retention of Three Part Advisors, LLC for investor relations consulting. This partnership aims to enhance investor awareness and showcase growth opportunities. Three Part Advisors will implement a strategic IR program designed to educate investors about EDUC's promising investment story, leveraging its solid balance sheet and growth initiatives. The firm has a reputable track record in successful IR programs, which could significantly benefit EDUC in increasing its visibility among investors.
Educational Development Corporation (NASDAQ: EDUC) reported a record net revenue of approximately $19.1 million for March 2021, up 133% from $8.2 million in March 2020. The Usborne Books & More (UBAM) division contributed $17.9 million, also a 132% increase. The Publishing division reached $1.2 million, marking a 140% rise. Notably, the active sales consultant base grew from 29,400 to 56,400, a 92% increase year-over-year. This marks the twelfth consecutive month of record growth, despite previous pandemic-related declines.
Educational Development Corporation (EDC) reported remarkable financial growth in February 2021, achieving net revenues of approximately $13.0 million, a 94% increase from $6.7 million in February 2020. For the fiscal fourth quarter, revenues reached approximately $40.3 million, doubling last year's figures. EDC's total fiscal 2021 revenues hit approximately $204.6 million, up 81% from $113.0 million in fiscal 2020. The company noted a significant rise in active consultants in its Usborne Books & More division, reaching about 57,600, a 95% increase year-over-year.
Educational Development Corporation (EDUC) achieved record net revenues of approximately $11.9 million in January 2021, marking a 125% increase compared to January 2020. The Usborne Books & More (UBAM) division contributed significantly with revenues of $11.1 million, a 141% growth year-over-year. The active consultants in UBAM rose to approximately 59,100, an 85% increase. The Publishing division also reported a 14% rise in sales, totaling $0.8 million. Despite seasonal trends, the company’s performance reflects strong growth and successful consultant retention.
Educational Development Corporation (NASDAQ: EDUC) has provided an updated fiscal 2021 guidance, estimating net revenues to exceed $200.0 million and diluted earnings per share between $1.45 and $1.50. This reflects a significant 77% growth in sales year-over-year and approximately 113% growth in earnings. The company is also anticipating continued improvements into fiscal 2022, driven by increased operational efficiencies from new production lines that will enhance shipping capacity and reduce labor costs.
Educational Development Corporation (NASDAQ: EDUC) reported significant financial growth for Q3 and year-to-date results as of November 30, 2020. Net revenues surged by 63.5% to $66.75 million compared to $40.82 million in Q3 2019. Net earnings increased by 56.1% to $4.27 million, with earnings per share rising 54.5% to $0.51. Year-to-date revenues reached $164.29 million, marking a 76.9% increase. The Usborne Books and More division drove growth, with a notable rise in active sales consultants. The company also announced a quarterly dividend of $0.10 per share, payable on March 11, 2021.
Educational Development Corporation (EDC) reported record net revenues of approximately $15.1 million in December 2020, primarily driven by the Usborne Books and More (UBAM) division, which generated $14.3 million—an 88% increase year-over-year. Active sales consultants grew to over 60,000 from around 30,000 in March 2020. The company is investing $4.5 million to expand shipping capacity, anticipating continued growth. Retail division revenues also saw a 60% increase compared to December 2019.
Educational Development Corporation (NASDAQ: EDUC) has reported record net revenues of over $66.8 million for Q3 fiscal 2021, marking a 63.7% increase year-over-year, attributed to a rise in active sales consultants in its Usborne Books and More (UBAM) Sales Division, now exceeding 60,400
CEO Randall White attributes growth to increased sales consultants and investments. Retail sales are improving as stores reopen, with expectations of continued growth into fiscal 2022.
Educational Development Corporation (EDC) will present at the 13th Annual LD Micro Main Event Investor Conference on December 15 at 10:20 AM EST. CEO Randall White will address a virtual audience, marking a shift in the conference format to include a 10-minute presentation followed by a 10-minute Q&A. This event, exclusively on the Sequire Virtual Events platform, aims to enhance engagement between executives and investors. EDC specializes in publishing children’s books, partnering with Usborne and Kane Miller to offer over 2,000 titles.
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