Educational Development Corporation Releases December Sales
January 16, 2002
Educational Development Corporation announces that its December sales were $1,694,200, an increase of 36.7% over December last year and the highest December sales in five years. The Home Business Division increased 27% with net sales of $1,305,100, its highest December sales since December, 1996. This division has posted a 29% sales increase for the first ten months in this fiscal year through December 31, 2001. Recruiting in the Home Business Division increased 100% in December 2001 over December last year.
The Publishing Division, which sells primarily to trade and wholesale distribution companies, recorded a 83% increase in net sales for the month of December 2001 when compared with December last year.
Educational Development Corporation sells the Usborne line of children's books through its multi-level sales organization, through 10,000 retail stores and over the Internet. The Company offers over 1,100 different titles for children of all ages.
Educational Development Corporation's common stock is traded on the NASDAQ exchange under the symbol EDUC.