Home Unit Leads Gains at EDC
By Staff -- Publishers Weekly, 10/1/2001
Driven by continued strong sales from its home business division, Educational Development Corp. reported that total revenues for the second quarter, ended August 31, 2001, rose 15.7% to $5.1 million, while net income in the period increased 20.2% to $423,800. Sales in the home group increased 42.4% in the quarter, more than offsetting a 7.9% decline in the retail unit. For the first six months of the year, earnings rose 26.2%, to $793,000, on a 14.4% sales gain to $9.9 million.
