---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000063"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-01-11T23:59:59+00:00"
generated_at: "2026-06-07T00:42:23.524461+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# EDC Q3 revenue down 44% to $16.9M; net income $2.0M vs $0.0M, boosted by $4M sale-leaseback gain

## Summary
- 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.

## SEC filing metadata
- accession: 0001185185-24-000063
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-01-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/31667/000118518524000063/0001185185-24-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000063/edc20240111_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000063
- JSON: https://secwatch.observer/filing/0001185185-24-000063.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000063.txt

## Key facts
- Earnings Releases
  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
  source text: Net revenues of $42.1 million, a decrease of $30.7 million, or 42.2%, compared to $72.8 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31667/000118518524000063/0001185185-24-000063-index.htm
- Earnings Releases
  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
  source text: Net revenues of $16.9 million, a decrease of $13.4 million, or 44.2%, compared to $30.3 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31667/000118518524000063/0001185185-24-000063-index.htm

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