Revenue at Educational Development Corp. jumped 205% in August, over August 2014, hitting just over $5 million. Company CEO Randall White said, yesterday, that the increase was driven by a 191% jump in sales in the company’s direct sales unit, where revenue was just under $3.9 million.
White credited the huge gain to the addition of 5,000 new sales associates since mid-June. Sales in the publishing division rose 3% in the month. The strong August capped the biggest revenue quarter in EDC’s history, White said, with unaudited results showing sales of $12.6 million.
One beneficiary of the strong sales performance has been the company’s stock price. Despite a down overall stock market, EDC’s stock price has risen 37% in the last month, and closed September 3 at $6.51 per share.