Boston, MA 07/17/2014 (wallstreetpr) – Educational Development Corporation (NASDAQ:EDUC) on July 15, 2014 pronounced the report for the fiscal first quarter that ended on May 31, 2014.
The net revenue:
The trade publisher of children books unveiled the net revenues of $7, 178,300 for the first quarter of fiscal 2015. The financial report clearly mentioned that the net revenue improved by almost 20% from the previous year, where the net revenue of Educational Development was $5,990,500.
Net earnings by the company:
The net earnings were also impacted this year. The net earnings, which were $66,600 in the preceding year, soared up to $239,700. The earnings per shares on a diluted basis moved from $0.02 to $0.06 in the fiscal year 2015.
Decision of 2012 proves advantageous for the company:
In the year 2012, Educational Development Corporation (NASDAQ:EDUC) decided to eliminate sales to large internet sellers as well as most wholesale accounts in order to support Usborne Books & More, the company’s home business division. Due to the decision, near about $2,000,000 in sales or 20% of the net revenue of EDC Publishing was eliminated. However, the decision by the company, which faced lot of cynicism and ridicule from the industry proved to be worthy. It is because EDC Publishing was successful in completing the fiscal year February 28, 2014 with record net revenue along with the first quarter ending on May 31, 2014 with 17-% swelling in net revenues.
13-consecutive growth in revenue:
The result was due to the overwhelming support from the retail customer-base of the company. Usborne Books & More was also advantageous immensely from the decision. After nine months of disgraceful revenues, Usborne Books & More witnessed 13-consecutive months of growth in revenues. Moreover, in the last four months, from February to May, the net revenues have shown 20-% increase YOY while the trend continues till June with 23%.
27 years of glorious history:
Educational Development Corporation (NASDAQ:EDUC) operating with negligible debt has a record of 27 years without a single failure in the quarter, and expects to preserve the historical figures.
