Educational Development Corporation Announces Fiscal 2011 Results

/ Source: GlobeNewswire

TULSA, Okla., June 8, 2011 (GLOBE NEWSWIRE) -- Educational Development Corporation (Nasdaq:EDUC) () today reported results for the fiscal fourth quarter and the full year ended February 28, 2011.

For the fiscal year 2011, the Company reports net revenue of $27,243,200, a decrease of $1,427,600 when compared to $28,670,800 for the previous year and net earnings of $1,168,200 compared to $1,913,600. Earnings per share were $0.30 compared to $0.49 the previous year on a fully diluted basis.

For the fourth quarter 2011, the Company announced net revenues of $5,712,800 compared to 6,257,900 for the same period last year. The Company reported 2011 fourth quarter net earnings of $12,900 compared with $347,700 for the 2010 fourth quarter resulting in earnings per share of $0.00 per share for 2011 fourth quarter and $0.08 for 2010 fourth quarter on a fully diluted basis.

About Educational Development Corporation

Educational Development Corporation sells children's books, including Usborne Books and the Kane/Miller line of international children's titles through a multi-level sales organization of independent consultants, through 5,000 retail stores and over the Internet. More than 1,600 different titles are available for children of all ages, with periodic new additions.

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CONTACT: Educational Development Corporation Randall White, (918) 622-4522