UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2020 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number: 000-04957 | --- | --- | --- | |----------------------------------------------------------------------------- ...

Educational Development Corporation (NASDAQ:EDUC) Q2 2021 Earnings Conference Call October 13, 2020 4:00 PM ET Company Participants Randall White - CEO Heather Cobb - Chief Sales and Marketing Officer Craig White - Chief Operating Officer Dan O'Keefe - CFO Operator Ladies and gentlemen, thank you for standing by and welcome to the Fiscal 2021 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. I would now like to hand the conference over to your speaker today, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2020 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number: 000-04957 EDUCATIONAL DEVELOPMENT CORPORATION (Exact name of registrant as specified in its charter) Delaware ...

Educational Development Corp (NASDAQ:EDUC) Q1 2021 Earnings Conference Call July 15, 2020 4:00 PM ET Company Participants Randall White - Chairman, President, Treasurer & CEO Daniel O’Keefe - Corporate Secretary & CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the Educational Development Corporation's First Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your presenter, Mr. Randa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2020 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number: 000-04957 | --- | --- | |---------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - Net revenues for Q4 2020 were approximately $20.2 million, down $3.4 million or 14.7% from approximately $23 million in Q4 2019 [3] - Full fiscal 2020 net revenues were approximately $113 million, down $5.8 million or 4.9% from approximately $118.8 million in fiscal 2019 [4] - Net earnings in fiscal 2020 were $5.6 million, down $1.1 million or 15.5% from $6.7 million in fiscal 2019 [5] - Earnings per share on a fully diluted basis decreased from $0.81 in fiscal 2019 to $0.68 in fiscal 2020 [5] Business Line Data and Key Metrics Changes - The retail division experienced a significant decline, with sales down about 60% to 70% due to store closings [9] - The UBAM division saw a revenue increase of about 60% in April compared to the previous year, despite the absence of school and library business [11] Market Data and Key Metrics Changes - March revenue was down 25%, attributed to disruptions in retail and school sales [8] - The company applied for a PPP loan of $1.44 million in response to the downturn, which was paid back shortly after due to improved business conditions [10] Company Strategy and Development Direction - The company is focusing on building a strong foundation for future growth, with new recruitment and IT programs in place [8] - Management expressed optimism about the potential for continued growth, drawing parallels to rapid growth experienced in 2016 [15][19] - The company is preparing for increased demand by ordering significant inventory and expanding operational capacity [37] Management's Comments on Operating Environment and Future Outlook - Management noted that there has not been a negative trend since April, with consistent weekly improvements in business performance [17] - The company is experiencing a surge in new sales recruits, indicating a positive trend in direct selling [12][20] - There is a strong demand for educational materials, particularly in the homeschooling sector, which is expected to continue [19] Other Important Information - The company transitioned to a virtual convention, attracting over 6,200 registrants, which is expected to be profitable [24] - Management emphasized the importance of early success for new consultants in maintaining momentum in sales [21] Q&A Session Summary Question: Concerns about the sustainability of improvements post-COVID - Management believes the current growth trend may continue, similar to the rapid growth seen in 2016, and that many individuals are looking for side gigs due to job losses [15][16] Question: Impact of unemployment on business opportunities - Management acknowledged the high unemployment rate but sees it as an opportunity for individuals to explore direct selling as a viable income source [18] Question: Handling increased demand and operational capacity - Management confirmed that they have ramped up operations to handle increased order volumes, with the ability to expand shifts as needed [32][33]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 29, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 000-04957 | --- | --- | |------------------------------------------------------------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2019 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number: 000-04957 EDUCATIONAL DEVELOPMENT CORPORATION | --- | --- | |----------------------------------------------- ...

Financial Data and Key Metrics Changes - Net revenues for Q2 fiscal 2020 were approximately $24.4 million, down $0.3 million or 1% from $24.7 million in Q2 fiscal 2019 [5] - Earnings before income taxes totaled approximately $1.4 million, a decrease of $0.6 million or 30% from approximately $2 million in Q2 fiscal 2019 [5] - Net earnings in Q2 fiscal 2020 were approximately $1 million, a decrease of $0.5 million or 33% from approximately $1.5 million in Q2 fiscal 2019 [6] - Earnings per share on a fully diluted basis decreased $0.06 or 33% from $0.18 in Q2 fiscal 2019 to $0.12 in Q2 fiscal 2020 [6] - Pretax profit as a percentage of net revenues was 5.6% in Q2 fiscal 2020 compared to 8.1% in Q2 fiscal 2019 [6] Business Line Data and Key Metrics Changes - The UBAM division historically has the lowest net revenue quarter in Q2, which started slower than the previous year [7] - Sales in the published division increased just under 4% over last year's Q2 net earnings, attributed to improved distribution [9] - The company recruited over 10,000 new sales consultants in July, leading to an 8% increase in August net revenues compared to the previous year [8] Market Data and Key Metrics Changes - The company has a significant inventory buffer due to long lead times for product orders, which helps mitigate the impact of tariffs expected to start in December [50][51] - Approximately 70% of the company's products are produced in China, and tariffs are anticipated to affect these products [49] Company Strategy and Development Direction - The company is focusing on enhancing its IT infrastructure, including a mobile-friendly Consultant Back Office and an upgraded e-commerce site [12][13] - A partnership with PayPal has been established to improve payment processing and user experience [14] - The company aims to continue its trend of declaring dividends and share repurchase programs, indicating confidence in its valuation [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth during the fall selling season following a successful recruiting effort [8] - The company acknowledges challenges in the direct selling industry but emphasizes its ethical business practices [22][23] - Management is confident in the strength of its business model, even during the softest revenue quarter [21] Other Important Information - The company repurchased 60,000 shares for $400,000 during the quarter, indicating a commitment to shareholder value [21] - The company has leased out part of its older building, generating an annualized revenue of approximately $140,000 [56][57] Q&A Session Summary Question: Were there any one-time benefits in last year's expense structure that should be considered for modeling? - Management acknowledged a $400,000 rebate from a large supplier recognized in the fourth quarter of the previous year but did not identify any unusual adjustments in the third quarter [27] Question: How should incremental operating margins be viewed? - Management explained that the UBAM division has a different expense structure, with a significant portion of expenses recorded below the line, making it challenging to provide a direct dollar-to-dollar comparison [28][31] Question: What is the current consultant count? - The consultant count was approximately 35,000, but management noted that this number changes frequently as new consultants sign up and others drop out [32] Question: Is there any expectation of changes from Facebook affecting online sales? - Management anticipates that Facebook may implement changes, but the consultant base has shown resilience and creativity in adapting to challenges [40][41] Question: Are there any plans regarding capital expenditures for the upcoming fiscal year? - Management indicated that they do not project significant capital expenditures, as they are traditionally a low CapEx company [53][54]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2019 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________. Commission file number: 000-04957 | --- | --- | --- | |-----------------------------------------------------------------|------------- ...