secwatch.observer — SEC 8-K summary
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Issuer:     EDUCATIONAL DEVELOPMENT CORP (EDUC)
CIK:        0000031667
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0001185185-23-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EDC reports Q3 net revenues down 32.8% to $30.3M; EPS $0.00 vs $0.31
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- Q3 net revenues $30.3M (-32.8% YoY); net earnings $900 vs $2.6M; EPS $0.00 vs $0.31.
- Average active direct-sales consultants fell to 27,100 from 41,500 YoY.
- Year-to-date net loss of $585,200 vs net income of $8.0M; EPS $(0.07) vs $0.94.
- Company rebranded direct sales division to PaperPie and launched SmartLab Toys product line.
- Usborne distribution agreement changed; retail rights ended Nov 15 (extended to Jan 31).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/0001185185-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/edc20230104_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-000005

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