Business
Educational Development Corporation Announces Record October Revenues and Record Active Sales Consultant Count
TULSA, Okla., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) reports
About this update from Educational Development Corporation
[{"type":"text","content":"TULSA, Okla., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) reports that the Company has achieved record monthly net revenues in October in excess of $23 million and grew to over 56,000 active sales consultants in the Company’s Usborne Books and More (UBAM) Sales Division at the end of October.\n Randall White, CEO of Educational Development Corporation, announced the milestones yesterday in a weekly update to the UBAM consultant sales force. Per Mr. White, “Yes, October sales broke even more records this year. Sales for the UBAM Division were record-breaking (probably until we finish November) with over $22.3 million worth of orders, a 62% increase over October last year. We had record shipping days, one day shipping over $1.5 million in books!” Mr. White also announced that the Company had reached a milestone in number of active sales consultants in the Company’s UBAM Division. “I am thankful for each and every one of our Consultants and Leaders who are part of our 56,000 member field sales force. What you do is important, and I appreciate each and every one who is part of our literacy mission.” Mr. White concluded, “I am very happy to report revenues from our Retail Division were also up 14% for the month, which I believe is excellent in today’s market.” 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, book fairs with school and public libraries as well as sales over the internet. 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 Pr...