EDC Reports Annual Earnings

Apr 19, 2001, 01:00 ET from Educational Development Corporation

    TULSA, Okla., April 19 /PRNewswire/ -- Randall W. White, Chairman and CEO
 of Educational Development Corporation (Nasdaq: EDUC), announces the Company
 earned $0.27 a share on net sales of $17,596,848 for fiscal year ended
 February 28, 2001.  Net earnings were $1,090,262 for the fiscal year.
     White announced that the increases were fueled by the Home Business
 Division, which recorded increases in net sales of 18.5% in the third quarter
 and 32.7% in the fourth quarter.  New recruits in the Home Business Division
 increased 35% during fiscal year 2001.
     The Company incurred $130,000 of non-recurring charges related to
 recruiting expenses in the Home Business Division, which were fully expensed
 in fiscal year 2001.
     White reports that the trend of sales increases has continued through
 March.  Net sales for March increased 28.6% in the Home Business Division and
 6.0% in the Publishing Division, for a combined gain of 16%, which produced
 the highest March sales in the Company's history.
 
                                        February 28, 2001   February 29, 2000
     Net sales                               $17,596,848         $16,851,261
 
     Pretax earnings                          $1,770,362          $1,748,028
     Income taxes                                680,100             669,000
 
     Net earnings                             $1,090,262          $1,079,028
 
     Basic earnings per share                       $.28                $.25
     Diluted earnings per share                     $.27                $.24
 
     Weighted Average Number of
      Common and Common Equivalent
      Shares Outstanding:
       Basic                                   3,955,527           4,364,608
       Diluted                                 4,042,642           4,426,836
 
 

SOURCE Educational Development Corporation
    TULSA, Okla., April 19 /PRNewswire/ -- Randall W. White, Chairman and CEO
 of Educational Development Corporation (Nasdaq: EDUC), announces the Company
 earned $0.27 a share on net sales of $17,596,848 for fiscal year ended
 February 28, 2001.  Net earnings were $1,090,262 for the fiscal year.
     White announced that the increases were fueled by the Home Business
 Division, which recorded increases in net sales of 18.5% in the third quarter
 and 32.7% in the fourth quarter.  New recruits in the Home Business Division
 increased 35% during fiscal year 2001.
     The Company incurred $130,000 of non-recurring charges related to
 recruiting expenses in the Home Business Division, which were fully expensed
 in fiscal year 2001.
     White reports that the trend of sales increases has continued through
 March.  Net sales for March increased 28.6% in the Home Business Division and
 6.0% in the Publishing Division, for a combined gain of 16%, which produced
 the highest March sales in the Company's history.
 
                                        February 28, 2001   February 29, 2000
     Net sales                               $17,596,848         $16,851,261
 
     Pretax earnings                          $1,770,362          $1,748,028
     Income taxes                                680,100             669,000
 
     Net earnings                             $1,090,262          $1,079,028
 
     Basic earnings per share                       $.28                $.25
     Diluted earnings per share                     $.27                $.24
 
     Weighted Average Number of
      Common and Common Equivalent
      Shares Outstanding:
       Basic                                   3,955,527           4,364,608
       Diluted                                 4,042,642           4,426,836
 
 SOURCE  Educational Development Corporation