8-K
filed January 11, 2024, 6:59 PM ET
ticker EDUC
CIK 0000031667
earnings
confidence high
sentiment neutral
materiality 0.75
EDC Q3 revenue down 44% to $16.9M; net income $2.0M vs $0.0M, boosted by $4M sale-leaseback gain
EDUCATIONAL DEVELOPMENT CORP
2024-Q3 EPS reported
$0.26
revenue$42,061,800
- Net revenues $16.9M, down 44.2% YoY; diluted EPS $0.24 vs $0.00.
- Average active PaperPie Brand Partners fell 39.5% to 16,400 from 27,100.
- Non-recurring items: $3.8M ERC credit in Q2, $4.0M sale-leaseback gain in Q3.
- Credit line increased to $8M, maturity extended to May 2024; Hilti complex sale expected to pay off borrowings.
- Publishing revenue down 75% to $1.2M due to Usborne stoppage; SmartLab toys partially offset.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
EDUCATIONAL DEVELOPMENT CORP reported year-to-date ended November 30, 2023 results: revenue $42.1 million, net income $2.2 million, EPS $0.26.
- Period
- year-to-date ended November 30, 2023
- Revenue
- $42.1 million
- Net income
- $2.2 million
- EPS
- $0.26
- Result
- reported results
Exact text from the filing
Net revenues of $42.1 million, a decrease of $30.7 million, or 42.2%, compared to $72.8 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
EDUCATIONAL DEVELOPMENT CORP reported third quarter ended November 30, 2023 results: revenue $16.9 million, net income $2.0 million, EPS $0.24.
- Period
- third quarter ended November 30, 2023
- Revenue
- $16.9 million
- Net income
- $2.0 million
- EPS
- $0.24
- Result
- reported results
Exact text from the filing
Net revenues of $16.9 million, a decrease of $13.4 million, or 44.2%, compared to $30.3 million.
View on SEC.gov
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