Press Release


EDC Reports Annual Earnings

April 19, 2001

Randall W. White, Chairman and CEO of Educational Development Corporation, announces the Company earned $0.27 a share on net sales of $17,596,848 for fiscal year ended February 28, 2001.  Net earnings were $1,090,262 for the fiscal year.

White announced that the increases were fueled by the Home Business Division, which recorded increases in net sales of 18.5% in the third quarter and 32.7% in the fourth quarter. New recruits in the Home Business Division increased 35% during fiscal year 2001.

The Company incurred $130,000 of non-recurring charges related to recruiting expenses in the Home Business Division, which were fully expensed in fiscal year 2001.

White reports that the trend of sales increases has continued through March.  Net sales for March increased 28.6% in the Home Business Division and 6.0% in the Publishing Division, for a combined gain of 16%, which produced the highest March sales in the Company's history.

Net Sales February 28, 2001
$17,596,848
February 29, 2000
$16,851,261
Pretax Earnings $1,770,362 $1,748,028
Income taxes $680,100 $669,000
Net earnings $1,090,262 $1,079,028
Basic earnings per share $0.28 $0.25
Diluted earnings per share $0.27 $0.24
Weighted Average Number of
Common and Common Equivalent
Shares Outstanding:
    Basic 3,955,527 4,364,608
    Diluted 4,042,642 4,426,836