For the six-month period ended Aug. 31, 2015, revenue at Educational Development Corp., which sells children’s books under the Kane Miller and Usborne imprints, jumped to $22.2 million, up 59% compared to the same period in 2014, and net income soared by over 300%, to $969,000. Sparked by those figures, EDC’s stock price rose from $4.69 per share on June 1 to $14.48 on December 10, more than a 200% gain. And for the first nine months of the current fiscal year (March through November), Randall White, chairman, president, and CEO of EDC, estimated that revenue was about $47 million—far higher than the $32 million in sales the company generated for the fiscal year ended Feb. 28, 2015.
Before business took off earlier this year, a good day’s worth of orders was $1,500,
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EDC bucks Amazon, Retools Home Book Sales
by Ramya Chandrasekaran • • 0 Comments
Pitching in on a night shift at the warehouse or offering advice on packing boxes isn’t usually in the job description for a company president and CEO.
Neither is dancing on a desk when the stock price hits a milestone. Or posting funny videos to a Facebook fan page started by two sales consultants.
But for Randall White, it’s all part of the fun at Educational Development Corp., the children’s book publisher and distributor he joined in 1983. The company took the No. 2 spot in this year’s Oklahoma Inc. rankings, up from No. 22 in 2014.
EDC sells to bookstores, online and through multi-level marketing. It’s the sole U.S. distributor of the popular, award-winning Usborne line of children’s books from the United Kingdom. The company also owns Kane Miller Publishers, an international children’s book
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Educational Development Corp Reports Record Gains
by Ramya Chandrasekaran • • 0 Comments
Randall White, CEO, Educational Development Corporation today announced record net revenues for the fiscal quarter and six months ended August 31, 2015.
Net revenues for the quarter ended August 31, 2015, were a Company-record $12,606,800 when compared to $6,808,200 for the same quarter last year, up 85%. Net earnings were $644,400 compared to a $3,900 net loss last year.
Net revenues for the home business division, Usborne Books & More were up 152% for the second quarter of fiscal year 2016, compared to the same period in fiscal year 2015. The net revenue gain was primarily driven by new sales associates joining our organization in this quarter, 4,800 compared to 2,300 in the second quarter last year, an increase of 107%. The net sales increase continued in September with sales of this division up