TULSA, Okla., May 12, 2021 (GLOBE NEWSWIRE) — Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) today reports record net revenues and earnings per share results for the fiscal fourth quarter and fiscal year ended February 28, 2021.
Fiscal Year End Highlights Compared to the Prior Year
Net revenues of $204.6 million, an increase of 81.1%, compared to $113.0 million.
Net earnings of $12.6 million, an increase of 125.0% compared to $5.6 million.
Earnings per share was $1.50, compared to $0.68, an increase of 120.6%.
Fourth Quarter Highlights Compared to the Year Ago Quarter
Net revenues of $40.3 million, an increase of $20.2 million, or 100.1%, compared to $20.1 million.
Earnings before income taxes were $3.0 million, an increase of $2.3 million, or 328.6%, compared to $703,000.