Results Jump at EDC
by Staff -- Publishers Weekly, 7/8/2002
Educational Development Corp. continues to reap dividends from its investment in its home sales network as revenue in the home business division rose 41.1%, to just under $4 million, for the first quarter ended May 31. The home business unit drove up total revenue 27.7% at the company in the quarter, to $6.1 million. Net income rose 48.2%, to $547,700.
The company attributed the increase in its home business division to more sales associates, and noted that in May the recruitment of additional associates was double that of May 2001. In the publishing division, sales rose 9.0%, to $2.2 million. Sales were especially strong in May, increasing 28% over May 2001. Improved sales through the national bookstore chains was cited as the major reason for the growth in the publishing segment in the period.
