This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Educational Development Corporation Announces First Quarter Fiscal 2011 Results

TULSA, Okla., July 15, 2010 (GLOBE NEWSWIRE) -- Educational Development Corporation (Nasdaq:EDUC) ( http://www.edcpub.com ) today reported results for the first quarter of fiscal 2011, ended May 31, 2010.

Results

EDUC reports net revenue of $6,295,400 for the quarter ended May 31, 2010 compared to $6,390,600 and net earnings of $188,200 compared to $415,400 for the same period last year.

We are pleased the Publishing Division posted a net revenue gain of 5.9% for the quarter in a tough retail environment and the trend continued as June sales were the second highest for any month in our history.

The Home Business experienced a 4.8% net revenue decline which is primarily due to decreases in home party sales and direct sales. We hold our National Sales Convention next weekend where training on all aspects of the business will be presented to over 500 sales consultants.

During the quarter, the Company recorded a one-time casualty loss of $188,500. While this resulted in disappointing results for the quarter, the Company operations were not affected. 

EDUCATIONAL DEVELOPMENT CORPORATION
SELECTED FINANCIAL DATA
  Three Months Ended May 31,  
  2010 2009  
       
NET REVENUES  $ 6,295,400   $ 6,390,600   
EARNINGS BEFORE INCOME TAXES  $ 300,300   $ 666,000   
INCOME TAXES  112,100   250,600   
NET EARNINGS  $ 188,200   $ 415,400   
       
BASIC AND DILUTED EARNINGS PER SHARE:      
Basic  $ 0.05   $ 0.11   
Diluted  $ 0.05   $ 0.11   
       
WEIGHTED AVERAGE SHARES:      
Basic  3,876,603   3,843,847   
Diluted  3,880,131   3,844,859   

About Educational Development Corporation

Educational Development Corporation sells children's books, including Usborne Books and the Kane/Miller line of international children's titles through a multi-level sales organization of independent consultants, through 5,000 retail stores and over the Internet. More than 1,500 different titles are available for children of all ages, with periodic new additions.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
EDUC $4.29 1.13%
AAPL $126.60 -1.60%
FB $77.58 -1.60%
GOOG $534.05 -1.20%
TSLA $232.00 0.65%

Markets

DOW 18,012.85 -57.55 -0.32%
S&P 500 2,101.44 -13.05 -0.62%
NASDAQ 4,960.9980 -55.9310 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs