Educational Development Corporation Announces Record March and April 2017 Revenues
11 May 2017 - 9:06AM
Educational Development Corporation (“EDC”) (NASDAQ:EDUC)
(http://www.edcpub.com) today reports record quarter to day
unaudited net revenues for March and April 2017.
Randall White, CEO of Educational Development Corporation,
announced that the Company has had record quarter to date revenues
in the first two months of fiscal 2018, totaling approximately
$19.3 million. This revenue level represents an increase of
$3.8 million, or 25% over the combined March and April 2016
revenues of approximately $15.5 million.
Per Mr. White, “Quarter to date sales results were very
encouraging with continued double digit growth. This growth
shows the continued strong demand for our products and the success
of our sales teams. In anticipation of our continued growth,
our management team has recently approved a capital expansion
project that will further automate to our Tulsa, OK distribution
facility. We expect this facility expansion and additional
automation will increase our daily shipping capacity by as much as
100% over last year’s capacity levels.”
About Educational Development CorporationEDC is
a publishing company specializing in books for children. EDC is the
sole American distributor of the UK-based Usborne Books and owns
Kane Miller Books, specializing in children’s literature from
around the world. EDC’s current catalog contains over 2,300 titles,
with new additions semi-annually. Both Usborne and Kane Miller
products are sold via retail outlets and by direct sales
consultants nationally.
Contact:
Educational Development Corporation
Randall White, (918) 622-4522
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