---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000682"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-07-11T23:59:59+00:00"
generated_at: "2026-05-31T21:53:29.792919+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# EDC Q1 revenues down 31% to $10.0M; net loss expands; announces $35.5M sale/leaseback of Hilti Complex

## Summary
- Net revenues $10.0M (down 31% YoY); net loss $1.3M vs $0.9M; EPS loss $0.15.
- Average active PaperPie Brand Partners fell to 13,400 from 23,200.
- Signed $35.5M sale/leaseback of Hilti Complex; expects closing in 90 days; proceeds to repay borrowings.
- Leased half of Hilti Complex to third party for ~$1.0M annual cashflow.
- Post-sale $4.5M line of credit arranged; no dividends paid in Q1.

## SEC filing metadata
- accession: 0001185185-24-000682
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-07-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000682/0001185185-24-000682-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000682/edc20240711_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000682
- JSON: https://secwatch.observer/filing/0001185185-24-000682.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000682.txt

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