Educational Development Corporation publishes and distributes children’s books, educational manipulatives, and STEAM-based toys and games through its PaperPie and Publishing businesses. Its product portfolio includes Kane Miller Books, Learning Wrap-Ups, SmartLab Toys, and the U.S. multi-level marketing distribution of Usborne children’s books.
Company news commonly covers fiscal results, earnings-call scheduling, annual meeting and proxy matters, Brand Partner and retail-channel activity, inventory and cash-flow management, credit agreements, and real-estate actions such as the completed sale and leaseback of its headquarters and distribution warehouse.
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Craig White has been promoted to President and Chief Executive Officer of Educational Development Corporation (NASDAQ: EDUC) effective July 13, 2021. He succeeds Randall White, who transitions to Executive Chairman. Craig has over 30 years of experience at the company and aims to uphold its commitment to growth and shareholder value. EDC, specializing in children's books, reports over $200 million in annual revenue and remains optimistic about future performance despite industry challenges. Randall White will continue mentoring and advising in his new role.
Educational Development Corporation (EDC) reports a record first quarter for fiscal 2022, achieving net revenues of $40.8 million, up 6.5% from $38.3 million year-over-year. Net earnings rose 78.9% to $3.4 million, with earnings per share increasing 78.3% to $0.41. The company attributes its success to strategic restructuring and improved profitability across divisions. Despite previous revenue losses due to COVID-19, the company anticipates continued growth as restrictions lift. A quarterly dividend of $0.10 per share has been approved for September 2021.