secwatch.observer — SEC 8-K summary
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Issuer:     EDUCATIONAL DEVELOPMENT CORP (EDUC)
CIK:        0000031667
Form:       8-K
Filed at:   2023-10-12T23:59:59+00:00
Accession:  0001185185-23-001061
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31667/000118518523001061/0001185185-23-001061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31667/000118518523001061/edc20231011_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-001061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer