Educational Development Corporation Posts Sales Record
November 5, 2001
Sales for Educational Development were $2,164,900 for October, the highest sales month in three years, an increase of 12.5% over October last year. The Home Business Division increased 29% with sales of $1,631,100, its highest October sales in history, and the second highest monthly sales in its history. This division has posted a 31% sales increase for the first eight months in this fiscal year through October 31, 2001. The Home Business Division also recorded the second largest recruiting month in history, which added 15% to the field sales force.
The Company finished October with no debt and $1.1 million in cash reserves.
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.