Washington Post Publisher Will Lewis Steps Down After Layoffs 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Instagram Outage Disrupts Thousands of U.S. Users 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
TULSA, Okla., Dec. 14, 2017 -- Educational Development Corporation (“EDC”) (NASDAQ:EDUC) (http://www.edcpub.com) today reports unaudited third quarter and year to date net revenues for fiscal year 2018.
Randall White, CEO of Educational Development Corporation, announced that the Company had record net revenues of $38.7 million for the third quarter ending November 30, 2017, up 26% from the third quarter net revenues reported for the quarter ended November 30, 2016. Net revenues for the nine months ended November 30, 2017, totaled approximately $89.8 million, up 13% from the same period last year.
Per Mr. White, "Over the past summer we implemented new technologies and automation in our warehouse distribution system that has doubled our daily shipping capacity. As a result, our shipments during the third quarter were able to keep up with our incoming orders for the first time in several years. Our record results for the quarter are a direct result of our increased shipping capacity and the growth of our consultant orders during the quarter, reflecting their increased confidence in our ability to ship orders timely over the holiday season.”
Mr. White continued, “I am very proud of the accomplishments of our employees over the last two years as we have moved facilities and more than doubled our shipments and workforce. Growing this rapidly has challenged every one of us. I am also humbled and appreciative in the confidence and loyalty that our consultants and customers have shown us by staying with us during this period of high growth when our shipping times were extended. This is a clear statement of support for the quality of our products. We believe we have the best books in the world!”
About Educational Development Corporation
EDC is a publishing company specializing in books for children. EDC is the sole American distributor of the UK-based Usborne Books and owns Kane Miller Books, specializing in children’s literature from around the world. EDC’s current catalog contains over 2,300 titles, with new additions semi-annually. Both Usborne and Kane Miller products are sold via retail outlets and by direct sales consultants nationally.
Contact:
Educational Development Corporation
Randall White, (918) 622-4522
