Education Dvel Stock Price, News & Analysis

Educational Development (NASDAQ: EDUC) has announced its fiscal 2025 second quarter earnings call, scheduled for Thursday, October 10, 2024, at 3:30 PM CT (4:30 PM ET). The call will include a live Q&A webcast featuring key executives:

• Craig White, Chief Executive Officer and President
• Heather Cobb, Chief Sales and Marketing Officer
• Dan O'Keefe, Chief Financial Officer and Secretary

These executives will present the company's second quarter results and be available for questions. Participants can join the call via phone at (800) 717-1738 using Conference ID 47709. Audio replays will be available after the event on the company's investor relations website.

Educational Development (NASDAQ: EDUC) has terminated its agreement with Rockford Holdings for the sale and leaseback of its Hilti Complex in Tulsa, Oklahoma. The decision was made after Rockford couldn't meet the original terms, and proposed changes were deemed not in the best interest of EDC's stakeholders. Despite this setback, EDC remains optimistic about finding a new buyer soon.

The company has updated its marketing materials to include recent lease changes, notably a new lease for approximately 25% of the office and warehouse space with Crusoe Energy Systems. CEO Craig White expressed confidence that these updates will positively impact the current list of interested parties in the Hilti Complex.

Educational Development (NASDAQ: EDUC) reported its fiscal 2025 first quarter results, highlighting significant declines in key financial metrics. Net revenues fell to $10.0 million from $14.5 million year-over-year. The company reported a net loss of $1.3 million, compared to $0.9 million in the prior year, with a loss per share increasing to $0.15 from $0.11. Active PaperPie Brand Partners decreased to an average of 13,400 from 23,200. Despite these challenges, EDC generated $2.9 million in positive cash flow from inventory reductions and executed important real estate transactions aimed at improving cash flow and reducing debt. Promotions in June added over 3,700 new Brand Partners, totaling 14,700 by the end of the month. The company remains focused on returning to profitability and ensuring long-term stability through strategic actions.

Educational Development (NASDAQ: EDUC) has announced its fiscal 2025 first quarter earnings call scheduled for July 11, 2024, at 3:30 PM CT (4:30 PM ET).

Key executives, including CEO Craig White, will present the company's first quarter results and engage in a live Q&A session. Participants can join the call by dialing (800) 717-1738 with Conference ID 40168, and an audio replay will be available on the EDC website post-event.

On June 17, 2024, Educational Development (NASDAQ: EDUC) announced the execution of the Fifth Amendment to its Existing Credit Agreement with BOKF, NA. Effective May 31, 2024, this Amendment reduces the maximum availability of the Revolving Loan to $7.0 million until October 4, 2024. The Amendment mandates a further decrease to $4.5 million upon the sale of the Company's Headquarters. The Company has entered into a contract with Rockford Holdings for the sale of its headquarters and distribution warehouse, expected to close by September 12, 2024. The proceeds from this sale will be used to repay the outstanding borrowings. CEO Craig White expressed satisfaction with the Amendment, citing it as essential for maintaining operational support and focusing on returning to profitability.

Educational Development (NASDAQ: EDUC) has entered into a sale and leaseback agreement for its headquarters and warehouse at the Hilti Complex, Tulsa, Oklahoma, with Rockford Holdings. The sale price is $35.5 million, which will be used to pay off existing loans. EDC will lease back 218,200 square feet for 10 years at $8.72 per square foot with annual escalations. The transaction excludes adjacent excess land, which EDC retains. Hilti will continue its 15-year lease. The deal aims to reduce debt and improve cash flow, with expected operational cash flow strength through inventory conversion to cash.

On May 30, 2024, Educational Development (NASDAQ: EDUC) announced a new five-year triple-net (NNN) lease agreement for 111,000 square feet of unused office and warehouse space in its Hilti Complex in Tulsa, Oklahoma. The lease, starting July 1, 2024, has an initial rate of $9.05 per rentable square foot, with a 3% annual increase. The space became available after new efficiencies from updated pick and pack lines rendered the legacy lines obsolete. This new tenant enhances the financial stability of the property and supports the company's ongoing sale of the Hilti Complex.

Educational Development (NASDAQ: EDUC) reported its fiscal fourth quarter and fiscal year results for the period ending February 29, 2024. The company saw net revenues of $51.0 million for the fiscal year, down from $87.8 million the previous year. Fourth-quarter net revenues also fell to $9.0 million from $15.0 million. Despite the revenue decline, earnings before income taxes improved by $4.1 million to $0.7 million. Net earnings for the fiscal year increased to $0.5 million, translating to earnings per share of $0.07, compared to a loss per share of $(0.31) last year. The company reported a net loss of $(1.6) million for the fourth quarter, an improvement of $0.3 million from the previous year.

EDC launched a new e-commerce platform in January to enhance user experience. Inventory levels were reduced by $8.2 million, helping cover operating losses and reducing bank debt from $45.7 million to $33.9 million. The company also plans a sale/leaseback of its headquarters, potentially further reducing borrowings.

Educational Development (NASDAQ: EDUC) announces the schedule for its Fiscal Year 2024 Earnings Call, Annual Shareholders Meeting, and Record Date for Shareholder Proxy vote. The earnings call with live Q&A is set for May 21, 2024, at 3:30 PM CT. The Annual Meeting is scheduled for July 10, 2024. Shareholders of record on May 13, 2024, can participate. Proxy materials will be available on the company's website.