Business
Educational Development Corporation Announces Record June Net Revenues and Record Number of Active Consultants
TULSA, Okla., July 15, 2020 (GLOBE NEWSWIRE) -- Randall White, CEO of Educational Development Corporation, announced in the first quarter earnings call held
About this update from Educational Development Corporation
[{"type":"text","content":"TULSA, Okla., July 15, 2020 (GLOBE NEWSWIRE) -- Randall White, CEO of Educational Development Corporation, announced in the first quarter earnings call held on July 15, 2020, that the Company’s recent growth in net revenues has continued into the second quarter of the fiscal year. Mr. White identified that during June 2020, the first month of the second fiscal quarter, the Company recognized approximately $18 million in net revenues, compared to approximately $7 million of net revenues recorded in June of last year, an increase of approximately $11 million, or 157%. Mr. White also stated that June 2020 was the largest net revenues month in the Company’s history. \n In addition, during the call Mr. White identified that the Company’s UBAM division, whose sales are made through consultants, added 6,000 new recruits during June 2020, and had just over 39,000 active consultants at the end of the month, which is the largest number of active consultants in the Company’s history. Audio replays of the conference call will be available at www.edcpub.com/investors.aspx. About Educational Development Corporation (EDC) EDC is a publishing company specializing in books for children. EDC is the exclusive United States trade co-publisher of the line of educational children’s books produced in the United Kingdom by Usborne Publishing Limited (“Usborne”) and we also exclusively publish books through our ownership of Kane Miller Book Publisher (“Kane Miller”); both international award-winning publishers of children’s books. EDC’s current catalog contains over 2,000 titles, with new additions semi-annually. Both Usborne and Kane Miller products are sold via 4,000 retail outlets and by independent consultants, who hold book showings in individual homes, through social media, book fairs with school and public libraries, direct and internet sales. Contact: Educational Development Corporation Randall White, (918) 622-4522 Cautionary Statement for the Purpose of the “Safe Harbor” Provision of the Private Securities Litigation Reform Act of 1995. The information discussed in this Press Release includes “forward-looking statements.” These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “continue,” “potential,” “should,” “co...