EDC Q2 revenue down 45%; net profit of $1.1M includes $3.8M ERC credit

EDUCATIONAL DEVELOPMENT CORP

2024-Q2 EPS reported $0.02 revenue$25,117,100

Q2 net revenues $10.6M, down 45.4% YoY; net earnings $1.1M vs loss of $0.8M (includes $3.8M ERC credit).
Q2 diluted EPS $0.13 vs ($0.10); YTD EPS $0.02 vs ($0.07).
Average active PaperPie Brand Partners 18,100, down 32.5% from 26,800.
PaperPie revenue down 41.5% to $9.3M; Publishing down 62.9% to $1.3M due to Usborne stoppage.
Line of credit renewed; removed fixed charge ratio and debt acceleration clauses; Term Notes reclassified to long-term.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EDUCATIONAL DEVELOPMENT CORP reported financial results for second quarter and year-to-date ended August 31, 2023.

Period: second quarter and year-to-date ended August 31, 2023
Result: reported results

Exact text from the filing

On October 12, 2023, Educational Development Corporation announced, via press release, second quarter and year-to-date fiscal 2024 financial results. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

View on SEC.gov

Browse all earnings releases →

EDUCATIONAL DEVELOPMENT CORP filing history →

Source: SEC EDGAR

accession 0001185185-23-001061

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.