---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-001061"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2023-10-12T23:59:59+00:00"
generated_at: "2026-06-10T01:20:02.837455+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001185185-23-001061
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2023-10-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518523001061/0001185185-23-001061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518523001061/edc20231011_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-001061
- JSON: https://secwatch.observer/filing/0001185185-23-001061.json
- Plain text: https://secwatch.observer/filing/0001185185-23-001061.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31667/000118518523001061/0001185185-23-001061-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.