Revenues at Educational Development Corp. rose 2% in the fiscal year ended February 28, 2014, hitting $26.1 million, although two, one-time accounting items dropped net earnings to $357,600 from $802,900 in fiscal 2013.
Sales were up in both of EDC’s divisions. In the publishing unit, sales rose 1.5%, to just under $11 million, as revenues were up 10.2% for smaller retail stores and 3.0% for inside sales, offset by a decrease of 5.3% for national chain stores. In the home business division, sales rose abut 3%, to $15.1 million, the first time sales in the unit rose in nine years, according to the company.
The gain was led by an increase in the number of home sales reps selling the EDC line with that number rising to 5,900 at the end of the fiscal year from 4,700 at the conclusion of fiscal 2013. EDC said the company has been able to add more reps due in part to its decision made two years ago to stop selling its titles through Amazon.