This Day On The Street
Continue to site
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 Third Quarter Fiscal 2011 Results

TULSA, Okla., Jan. 19, 2011 (GLOBE NEWSWIRE) -- Educational Development Corporation (Nasdaq:EDUC) ( ) today reported results for the third quarter of fiscal 2011, ended November 30, 2010.


EDUC reports net revenue of $9,484,600 for the quarter ended November 30, 2010 of compared to $10,016,400 and net earnings of $776,900 compared to $925,100 for the same period last year.

Our Publishing Division posted a net revenue gain of 2.4% for the quarter and 3.4% for the nine months ended November 30, 2010 over the same period in 2009. This is especially encouraging as the publishing industry reports Juvenile Hardbacks down 16% for the year and Juvenile Paperbacks down 6% for the year.

The Home Business experienced an 8.2% net revenue decline for the quarter which is primarily due to decreases in home party sales, direct sales and internet sales. For the nine months ended November 30, 2010, net revenues declined 7.5% over the same period last year. This division has been impacted more by the economic conditions and consumer reductions in spending levels than our retail division; consequently, we continue to develop incentives for our field sales force to support their business.

Despite the small decline in sales and earnings, we continue a strong cash position while maintaining a $0.15 quarterly dividend.

  Three Months Ended November 30, Nine Months Ended November 30,
  2010 2009 2010 2009
NET REVENUES  $ 9,484,600   $ 10,016,400   $ 21,530,400   $ 22,412,900 
EARNINGS BEFORE INCOME TAXES  $ 1,248,300   $ 1,483,200   $ 1,851,700   $ 2,508,400 
INCOME TAXES  471,400   558,100   696,400   942,500 
NET EARNINGS  $ 776,900   $ 925,100   $ 1,155,300   $ 1,565,900 
 Basic  $ 0.20   $ 0.24   $ 0.30   $ 0.41 
 Diluted  $ 0.20   $ 0.24   $ 0.30   $ 0.41 
 Basic  3,891,065   3,872,134   3,883,420   3,861,001 
 Diluted  3,893,301   3,873,282   3,885,646   3,862,099 

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,110.14 +72.17 0.40%
S&P 500 2,114.77 +5.85 0.28%
NASDAQ 5,055.4220 -4.8240 -0.10%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs