Educational Development Corporation Announces Record Sales for March and April
May 2, 2002
Educational Development Corporation announces that both the first two months of fiscal year 2003 have achieved record sales and each month was the highest for that period in the Company's history. March sales were $2,044,900, an increase of 13.7% over March last year and the highest March in the Company's history. April sales were $2,013,800, an increase of 31.6% over April last year and the highest April in the Company's history.
Both periods in the Home Business Division reported increased sales. March was up 32.6% while April increased 42.3%. April marked the 22nd consecutive month in which the Home Business Division has produced a sales increase.
The Publishing Division, which sells primarily to trade and wholesale distribution companies, recorded a 1.8% increase for the months of March and April combined. This is especially note worthy as the retail industry nationwide is in a sales slump.
Educational Development Corporation's common stock is traded on the NASDAQ exchange under the symbol EDUC.