Educational Development Corporation Announces Record Fiscal First Quarter Estimated Net Revenues, Earnings and Active Sales Consultants in the Company''s UBAM Division
TULSA, Okla., June 16, 2021 (GLOBE NEWSWIRE) -- Educational Development Corporation ("EDC", or the "Company") (NASDAQ: EDUC ) ( http:||www.edcpub.com ) reports that the Company has estimated net revenues in fiscal first quarter 2022 totaling approximately $40.8 million. This represents an increase of $2.5 million, or 6.5%, from net revenues achieved in fiscal first quarter 2021 of $38.3 million. The Company estimates earning per share for the quarter between $0.38 and $0.41, which is an increase over the earnings of $0.23 per share reported for the first quarter of fiscal 2021. The Company''s Usborne Books More (UBAM) division averaged approximately 55,100 active consultants during the first quarter, an increase of 66% over 33,100 average active consultants reported for the first quarter last year. Per Randall White, Chief Executive Officer, "We are pleased to announce record first quarter fiscal 2022 net revenues. Along with this revenue growth, we are continuing to achieve operational improvements that are increasing our overall profitability and wanted to share earnings estimates." Mr.
Educational Development Corporation Announces Record Fiscal First Quarter Estimated Net Revenues, Earnings and Active Sales Consultants in the Company''s UBAM Division
TULSA, Okla., June 16, 2021 (GLOBE NEWSWIRE) -- Educational Development Corporation ("EDC", or the "Company") (NASDAQ: EDUC ) ( http:||www.edcpub.com ) reports that the Company has estimated net revenues in fiscal first quarter 2022 totaling approximately $40.8 million. This represents an increase of $2.5 million, or 6.5%, from net revenues achieved in fiscal first quarter 2021 of $38.3 million. The Company estimates earning per share for the quarter between $0.38 and $0.41, which is an increase over the earnings of $0.23 per share reported for the first quarter of fiscal 2021. The Company''s Usborne Books More (UBAM) division averaged approximately 55,100 active consultants during the first quarter, an increase of 66% over 33,100 average active consultants reported for the first quarter last year. Per Randall White, Chief Executive Officer, "We are pleased to announce record first quarter fiscal 2022 net revenues. Along with this revenue growth, we are continuing to achieve operational improvements that are increasing our overall profitability and wanted to share earnings estimates." Mr.