---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000575"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-05-21T23:59:59+00:00"
generated_at: "2026-06-01T11:36:17.379538+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001185185-24-000575
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-05-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000575/0001185185-24-000575-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000575/edc20240520_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000575
- JSON: https://secwatch.observer/filing/0001185185-24-000575.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000575.txt

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