EDC Q4 revenues fall 40% YoY to $9.0M; FY2024 net income of $0.5M vs prior loss

EDUCATIONAL DEVELOPMENT CORP

FY2024 net revenues $51.0M, down 42% from $87.8M; net earnings $0.5M vs $(2.5M) loss.
Q4 net loss $(1.6M) vs $(1.9M) loss; diluted EPS $(0.19) vs $(0.24).
Average active PaperPie Brand Partners dropped to 15,500 from 26,100 in Q4; full-year 18,300 vs 28,000.
Inventory reduced $8.2M (to $55.6M); bank debt cut from $45.7M to $33.9M; $3.8M ERC and $4.9M building sale.
Headquarters building appraised at ~$40M; planned sale/leaseback to fully repay bank borrowings.

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