secwatch.observer — SEC 8-K summary
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Issuer:     EDUCATIONAL DEVELOPMENT CORP (EDUC)
CIK:        0000031667
Form:       8-K
Filed at:   2024-10-10T23:59:59+00:00
Accession:  0001185185-24-000968
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EDUC reports Q2 revenue down 39% to $6.5M, net loss of $1.8M vs profit of $1.1M last year
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- Net revs $6.5M (-39% YoY); net loss $(1.8)M vs profit $1.1M; diluted EPS $(0.22) vs $0.13.
- Average active PaperPie Brand Partners 13,900 vs 18,100 (-23% YoY).
- Year-to-date net revs $16.5M vs $25.1M; net loss $(3.1)M vs profit $0.2M; diluted EPS $(0.37) vs $0.02.
- CEO: LOI to sell/lease back Hilti Complex; expect close by end of calendar year; proceeds to fully repay bank debt.
- Cost reductions: leased ~50% warehouse space, switched freight carrier (20% cost savings), consolidated Utah warehouse.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31667/000118518524000968/0001185185-24-000968-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31667/000118518524000968/edc20241010_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000968

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