On Tuesday, Educational Development Corporation (NASDAQ: EDUC) stock gained 18.53% and closed at 12.28. The stock opened the session at $10.64 and touched its highest price point at $13.44. Its recent trading capacity is 254,229 shares versus to its average trading volume of 33357 shares. The company stock lowest price point for the session stood at $9.79.
Educational Development Corporation (EDUC) recently reports net revenues and earnings per share results for the first quarter ended May 31, 2020.
Randall White, CEO of Educational Development Corporation, reported that for the first quarter ended May 31, 2020, the Company reports net revenues of $38,291,700, a raise of $10,704,300, or 38.8%, when contrast to $27,587,400 for the first quarter of the previous year. Net earnings totaled $1,931,100 for the quarter ended May 31, 2020, contrast to $1,363,600 for the quarter ended May 31, 2019, a raise of 41.6%. Earnings per share for the quarter were $0.23 contrast to $0.17 for the same quarter the previous year, a raise of 35.3% on a fully diluted basis.
The net revenues of our direct sales division, Usborne Books and More (“UBAM”) totaled $36,926,200 during the quarter ended May 31, 2020, a raise of 46.3% from $25,248,100 for the quarter ended May 31, 2019. Our average number of active consultants in the first quarter of fiscal 2021 was 33,100, a raise of 1,500, or 4.7%, from 31,600 average active consultants selling in the first quarter of fiscal 2020.
The Publishing divisions net revenues reduced 41.6% to $1,365,500 in the first quarter of fiscal 2021 from $2,339,300 for the same quarter a year ago. This decrease in sales resulted from temporary store closures influenced by the COVID-19 pandemic. Many of our publishing consumers temporarily closed in March, following the guidance from their local authorities to prevent the spread of the pandemic, and are reopening at varying times over the summer months.
Per Mr. White, “Due to the closures of many schools during the quarter, we experienced increased demand for educational materials in homes. Our increase in active UBAM consultants and our ability to receive orders online and deliver directly to our consumers’ homes resulted in our increased UBAM revenues during the quarter. We are excited to see this increase in demand for our products continue through the summer and into the fall as parents continue to limit outside activities and look to homeschooling options for the fall semester. We are also excited by the continued growth in active consultants. We are seeing our recruiting numbers climb to new levels as families look for non-traditional income streams to supplement or replace their income levels maintained previous to the COVID-19 pandemic.”
Its earnings per share (EPS) expected to touch remained -16.80% for this year. EDUC has a gross margin of 67.40% and an operating margin of 6.30% while its profit margin remained 5.00% for the last 12 months.
My Name is Gordon Mantz and I am also the main source from the ‘Worldnewsheardnow.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.