Led by a 152% jump in sales in its home business division, total revenue at Educational Development Corp. rose 85% in the second quarter ended August 31, 2015 over the same period last year. Revenue was $12.6 million, up from $6.8 million a year ago. The company posted net income of $644,400, compared to a loss of $3,900 in the second quarter of fiscal 2014.
EDC chairman Randall White attributed the gain in the home business division to the addition of 4,800 sales associates. (In the second quarter of fiscal 2014, EDC added 2,800 associates.) Sales in EDC’s publishing division rose 13% in the quarter.
For the first half of fiscal 2015, total revenue was up to $22.2 million, from $14 million in the first six months of fiscal 2014. Net earnings at the company jumped to $969,000, from $235,000. Sales in the home business division were up 100% in the six-month period.